Zoned Business Town Centre, the buildings form part of eight properties which are predominantly used as live/work, apartments, offices and retail. This zone provides for a wide range of uses including commercial, leisure and residential, community and civic services, tourism and cultural.
The zoning also covers a range of possible building heights, which depends on the use of the property. Provisions typically enable buildings of between four and eight storeys, although there may be special circumstances where other heights are appropriate.
Across the road is the popular French Cafe and council car parking. Also in the immediate area is a Thai takeaway store, bakery, cafe and only a five minute walk away is the Mt Eden Train Station.
"This uptown area of Auckland provides easy access to public transport, motorway links, Auckland Hospital and busy commercial areas like Kingsland, Auckland CBD, Grey Lynn and Newmarket. It is also in the Grammar Zone," says Zhang.
"The City Rail Link runs directly below the property and once complete in 2024, will enable faster train access to the CBD."
Reardon says about 19,000 cars pass the site per day during the working week, providing superb exposure for retailers within the buildings.
"A savvy investor may opt to renovate one building, cross lease it and sell it on, while using the other building for themselves, or they could choose to renovate and on-sell both. Alternatively, both properties could be refurbished as one space," says Reardon.
