Primed for commercial development with cafes edging closer

Sites at 465-471 Great South Rd are close to motorway on/off ramps. Photo / Supplied

Three adjoining properties at Great South Rd, located next to the Ellerslie Penrose motorway junction, are up for sale with future commercial development potential as offices, cafes and showrooms creep southwards towards them.

Peta Laery, of Bayleys Manukau, who is marketing 471, 467 and 465 Great South Rd in conjunction with James Hill of Bayleys Auckland, says that although the three sites are on separate titles they make up a total of 2618sq m, which is a large land holding in a location that is becoming more commercial every year.

Laery says the properties have been held by a development company that had planned to build something on them but is now cashing up.

"They are in a brilliant location, right at the motorway on/off ramps and very close to both bus and train services. They could be redeveloped either commercially with resource consent or residentially."

While all three are currently zoned Residential 6A, nearby developments under the same zoning have been granted resource consent for commercial premises.

The three properties are producing total net annual rental income of $86,454 from a bungalow leased to a commercial tenant and two brick-and-tile dwellings leased to residential tenants. However, the commercial tenant at No 465 has given notice and the income will drop to $60,319, leaving the 1920s bungalow vacant.

The 120sq m single-level building was converted to offices some years ago and has always had a good leasing history but could also suit an owner-occupier, said Laery. This property has the largest site at 1105sq m.

It has an excellent street profile with parking to the front and a large area to the rear, which has made it viable for professional practices, she says. Inside, the layout is semi-open plan with an entrance foyer and hallway leading to partitioned offices.

No 467 comprises two adjoining two-bedroom flats, which were constructed in about the 1960s. Each flat has a living area with an adjoining kitchen. The flats are accessed via a shared sealed driveway leading to a double carport and separate double garage at the rear of the 750sq m site.

No 471, on 763sq m of land, comprises a two-level dwelling constructed in the 1950s. The upper level is a three-bedroom unit with lounge, dining area, full kitchen, laundry and bathroom. Downstairs is a relatively compact single-bedroom unit with open plan living kitchen, bathroom/shower and laundry.

The properties are at the western side of Great South Rd, adjacent to the Penrose/Ellerslie roundabout. Great South Rd is one of Auckland's busiest arterial routes, stretching from Newmarket through to Manukau South and beyond.

"To the north is the Greenlane commercial precinct, which includes a large amount of recently built office space along with showroom and retail. To the south is the well-established Penrose industrial area, which provides for trade, showroom, bulk storage and manufacturing.

"The CBD is only a 15 minute drive away and the airport is also close on the southwestern motorway."

The three freehold, standalone properties are available for sale individually or as one lot. They are up for tender, closing on September 23, unless sold prior by private treaty.