The industrial building for sale at 91 Newton Rd, Eden Terrace.
The industrial building for sale at 91 Newton Rd, Eden Terrace.
A longstanding owner occupier's decision to sell after operating his business from a large property on Newton Road, Eden Terrace for the past 26 years has opened up a multitude of opportunities for the purchaser of the 1310 sq m high profile corner site.
Located at 91 Newton Road, theproperty has been home to Andy Harpers Tyre Services, an independent tyre company specialising in Bridgestone Tyres, since the late 1980s.
Damien Bullick, of Bayleys.
"Its decision to move on and the property's favourable Mixed Use zoning provides the next owner with significant commercial and residential development opportunities," says Alan Haydock of Bayleys Auckland who is marketing the property with colleague Damien Bullick.
Featured in Bayleys' latest Total Property portfolio, it is for sale by tender closing October 27 unless sold beforehand by private treaty.
The property is opposite another high profile Newton Road property, the Golf Warehouse, and adjacent to a major intersection which links Newton Rd with another major arterial, Dominion Rd, via Piwakawaka St.
There are about 735 sq m of buildings on the site encompassing two workshops and a residential apartment plus 23 car parks. The property is being sold with a short term lease in place offering annual holding income of $125,280 plus GST.
Andy Harpers Tyre Services Ltd occupies the main 615 sq m building which operates as a Bridgestone Tyre Centre. The firm will take a one year lease back over this building with one three-month right of renewal.
"This building offers a flexible layout with a number of vehicle access points, and is currently configured as a combination of warehouse, showroom and office and amenities," says Haydock.
On the upper level of the Andy Harper Tyres building is a separately-rented two bedroom residential apartment.
A smaller 120 sq m rear warehouse building is sub-leased to Hansen Auto Repairs and provides flexible warehouse and workshop accommodation.
Haydock says the property benefits from having three road frontages, with vehicle access from Newton Rd and Fleet St and frontage also onto Piwakawaka St.
Alan Haydock, of Bayleys.
"This corner site position offers excellent visibility to passing traffic on Newton Rd and significant signage opportunities as a consequence - one of the key attributes for future building on the site. There are a multitude of options that a new owner might pursue including occupying the property; adding value to the existing buildings; or undertaking a complete redevelopment of the property.
"Developers could take advantage of this sizeable Mixed Use site, which has an unobstructed northerly aspect, to develop either commercial or residential premises or a combination of different uses up to four storeys high, while owner occupiers would also benefit from the property's high profile position."
Bullick says Eden Terrace has developed into a highly sought after and thriving fringe CBD suburb. "In particular, it is becoming an increasing popular residential location because of its proximity to the CBD, motorways and transport links. There are numerous apartment and town house developments around nearby Basque Park with further complexes under construction.
"The property's current Mixed Use zoning will continue under the Proposed Auckland Unitary Plan with the height limit increasing from 15 metres to 16.5 metres and floor area restrictions being removed. The intensification of an already flexible zoning is likely to see this location continue to grow both commercial and residentially."
