A relatively new ground floor office unit, within a mixed development of commercial and residential units, is for sale in Auckland's popular city fringe suburb of Grey Lynn.
"The unit is available with vacant possession, so it represents a great opportunity for an owner-occupier," says Alex Wefers of JLL who, with fellow city and fringe broker, Liam Matheson, is exclusively marketing Unit O at 57 Livingstone St for sale by expressions of interest closing at 4pm on Wednesday June 5 - unless it sells earlier.
Wefers says the ground floor office Unit O, with a lettable area of about 120.3sq m, is one of 16 units within a development called 'City Lofts'.
"The two storey building has five commercial units on the ground floor and 11 residential units on the first floor," he says. "The property is gated and contains a mix of covered and uncovered car parks that have a ratio of around one space per 30.1sq m – giving a great parking ratio for any business, its workers and clients to use.
"Unit O's open-plan office space includes a mezzanine area which provides additional floor space; and the unit also benefits from having the exclusive use of four car parks," he says. "There is also ample street parking available surrounding the development.
"The unit itself contains a mix of high stud, low stud and mezzanine offices with bathroom and kitchen amenities beneath the mezzanine floor. The high-stud office area is 59.5sq m while the low-stud and mezzanine areas are both 30.4sq m.
"It has a high stud height of 3.95m which is rare within the Auckland city fringe precincts," says Wefers.
"A feature of the unit is its brightness – being illuminated by plenty of natural light, due to it having a glazed front facade from floor to ceiling."
Wefers says the stratum-in-freehold property is well located in the heart of Grey Lynn, just behind the Richmond Rd Countdown supermarket and adjoining the Hukanui Reserve.
Matheson says, that being relatively new, the City Lofts building is, "well presented" and the interior of Unit O is "very tidy".
Overall the property exhibits a modern standard of construction with reinforced concrete foundations, exterior concrete block walls, reinforced concrete columns and beams; and aluminium joinery.
The floor is carpeted on the ground level; while the mezzanine area and a kitchenette have polished timber flooring; and a bathroom has tiled flooring. The unit is equipped with ceiling spotlights and wall mounted air conditioning.
"This sale presents a great opportunity for an owner-occupier purchaser to eliminate the obligations associated with being a tenant and paying rent – being forced to rely on a landlord – but instead, personally owning an attractive office property right in the heart of Grey Lynn," says Matheson.
"The property is within walking distance to amenities like the Richmond Rd Countdown Supermarket, Farro Fresh store, Mitre 10 and several top quality cafes - including the recently opened Ozone Coffee Roastery and Eatery, and The Scrap Yard development on Westmoreland St.
"In addition to adjoining Hukanui reserve, it's a stone's throw away from Coxs Bay Reserve, and has good connectivity via Regina St to the busy arterial route of Richmond Rd. The other arterials of Jervois Rd and Ponsonby Rd are also nearby - as are the popular neighbouring city fringe suburbs of Ponsonby, Westmere and Herne Bay."
Matheson says Unit O is at the northeastern end of Livingstone St with the immediate surrounding development predominantly comprising residential land housing purpose-built apartments and dwellings varying in size, along with some commercial uses.
"Major public bus routes are a short walk to the south, located immediately in front of the Countdown Supermarket; while the closest motorway junction to the property is the Western Springs Interchange accessing State Highway 16. On-ramps to SH1 and SH20 are also nearby.
"Ponsonby is a four minute drive away and Karangahape Rd is a seven minute drive - while the Auckland city centre only a little bit further."
Matheson says the property is zoned Residential – Terrace Housing and Apartment Buildings. "This zoning enables a greater intensity of development than previously allowed for," he says. "It provides for urban residential living in the form of terrace housing and apartments; and is predominantly located around metropolitan, town and local centres where there are good public transport networks to support these highest levels of intensification.
"The purpose of the zone is to make efficient use of land and infrastructure, increase the capacity of housing and ensure that residents have convenient access to services, employment, education facilities, retail and entertainment opportunities, public open space and public transport.
"The zoning is designed to his promote walkable neighbourhoods and increase the vitality of local centres," Matheson says.