Building has Great South Rd buzz

The solid 1970s building at 415 Great South Rd, Ellerslie. Photo / Supplied

A fully tenanted office and retail building is for sale on Auckland's busy Great South Rd.

JLL agent Jason Armstrong says the 960sq m three-level building — which is predominantly of concrete construction — sits on a 707sq m site.

Renovated and extended in 2010, it now has five tenants and 21 basement carparks, which are made secure with pin code access.

Armstrong says the solid investment property, will be sold through an expressions of interest campaign closing at 4pm on Thursday July 5.

"Properties of this calibre can prove hard to find. This one ticks a lot of boxes and will prove to be an attractive option for both owner occupiers and investors," he says.

"The property is now fully tenanted, although the front tenant will soon be vacating the premises in mid-July.

"This presents the opportunity for an owner occupier to move into the 300sq m vacated retail and showroom space, while enjoying the benefits of the income generated by the other four tenancies," says Armstrong.

JLL agent Jarred Hill adds that the property is earning $266,885 net per annum.

"The Mixed Use zoning allows plenty of options for use and, under the Unitary Plan, the new owner can apply to build another floor on the property with a height limit for the site of 18 metres," Hill points out.

He lists tenants as follows: Hobby Master, Burrett and Associates, GPS, Focus Environmental and FTA Food Solutions with tenancies ranging from 61sq m to 300sq m.

With many of the properties in the area zoned Mixed Use, there are a range of business types in the area. Some of the larger businesses include Restaurant Brands, Genesis, Fletcher Building, Fairfax and Transpower.

Neighbouring the property is the Millennium Business Centre and just to the east is the Central Park Corporate Centre.

"To cater for the businesses in the area, many of the new developments containing cafes and food outlets; gym facilities and childcare centres can also be found within a short walk of the property," says Hill.

The property has a 15m frontage to Great South Rd and 45m frontage to Marei Rd, making it highly visible to passing traffic. During the working week about 24,000 cars pass per day along Great South Rd.

"This location is popular due to its closeness to motorways, with access to State Highway 1 only a couple of minutes away," says Hill.

"The Ellerslie Train Station is also within walking distance, while access to the CBD takes about 10 minutes and Auckland International Airport can be a 25-minute-drive.

"What's more, being on Great South Rd provides excellent public transport options, with regular buses passing the site daily."