A contemporary commercial office property on Ponsonby Road offering investors a solid return and potential to develop is being marketed for sale.
"With its good occupancy track record and modern décor, it is a solid investment plus there is opportunity for development," says Murray Tomlinson of Barfoot & Thompson City Commercial, who is marketing the property alongside Reese Barragar.
"The property would generally be regarded as being in a particularly good fringe city location with a net income per annum of $437,220.
"Plus the zone allows for a wide range of activities including commercial, leisure, residential, tourist, cultural, community and civic services, providing a focus for commercial activities and growth."
Located at 30 Ponsonby Road, property is close to popular Ponsonby Central and will be within walking distance of the planned the City Rail Link Station on K'Road.
The property has a main road position with ground level open parking and two levels of full floor office accommodation.
The present structure was built in 1984/85 by Mainzeal Developments. The height of the site and building gives direct sight lines to the Waitakere Ranges and the Hauraki Gulf.
With a total building area of approximately 1,086sq m on 885sq m of land, the structure looks typical of the early 80's but
Tomlinson, points out, that the building has undergone a number of improvements. Reinforced concrete beam and post with pre-stressed concrete floor slabs overlaid with poured concrete, external walls typically block, glass curtain-wall façade to the street front and aluminium joinery. The level two ceiling has been removed to expose the precast floor structure above and create a modern environment.
The property is positioned on the southern side with frontage to the northeast, providing all day sun and light in summer and winter to three sides of the building.
"There is a range of possible building heights for this zone depending on the context. Provisions typically enable buildings of between four and eight storeys, although there may be special circumstances where other building heights are appropriate," says Tomlinson.