The Cargill St property is on the fringe of Auckland Central.
Two mixed-use commercial properties offering live-and-work options for new owners in the Auckland fringe city suburb of Eden Terrace and in the centre of Manukau are among a range of commercial and industrial properties up for sale as part of Bayleys' latest Total Property Portfolio.
The Eden Terrace offering encompasses a 229sq m building on a freehold 248sq m site at 6 Cargill St. It is being offered for sale with vacant possession through Cameron Melhuish, Bayleys Auckland, and will go up for auction on Wednesday, June 25, unless sold beforehand. It has 160sq m of ground floor warehouse and office space with a fully self-contained upstairs residence of 69sq m, including deck.
"This versatile, well presented property will suit a wide range of users seeking an affordable 'live-and-work' opportunity in a central location, with Newmarket, Ponsonby, the Auckland CBD and motorways all just a short drive away," says Melhuish.
The property has a capital valuation for rating purposes of $580,000 and Melhuish says city-fringe, freehold standalone buildings in the sub $1 million price bracket come up for sale infrequently with this property having been under its current ownership for more than 15 years.
The building was originally constructed in the late 1950s as warehousing with upstairs storage. In 2003, the upstairs area was added to and converted into residential use.
The ground floor predominantly comprises a warehouse and workshop area with its main access being via a roller door from Cargill St. There is also an entry foyer and a good-sized office and administration area plus storage and an amenities room which includes a toilet and shower.
"A feature of the property is its landscaped outdoor area accessed through bi-folding doors from the entry foyer," says Melhuish. Adjacent to this is off-street car parking.
The self-contained residence comprises a bedroom, open-plan kitchen, lounge and dining area and a separate bathroom. Off the living area is another room with bi-folding doors opening on to north-facing decking with views to the Auckland CBD.
The property was partly reclad as part of the 2003 alterations. This included the addition of corrugated Colorsteel cladding, new powder-coated aluminium joinery in some areas, with other joinery refurbished, glass brick screen walling and sky lighting which provides excellent natural light to the residential and warehousing areas.
"The property, in conjunction with its zoning, provides versatility and can be used for a wide range of uses," Melhuish says. "Live and work opportunities such as this are hard to find close to the CBD."
Melhuish says Eden Terrace is a sought after and thriving commercial and residential city fringe suburb. "The surrounding mixed-use area includes low-to-medium-rise commercial office and apartment buildings developed over the last 20 to 30 years, with Symonds Street just a short walk away.
A mixed-use unit across the road from the Westfield Shopping Centre in Manukau, with commercial space at ground floor level and residential accommodation above, is also for sale in Bayleys' Total Property Portfolio, offering a number of options for a new owner.
The 350sq m unit at 710 Great South Rd, Manukau is for sale through Nick Bayley, Tony Chaudhary and Janak Darji, Bayleys Manukau by deadline private treaty closing at 4pm, Thursday June 26, unless it sells earlier.
Bayley says the two-level unit, which has a capital valuation for rating purposes of $690,000, has recently been refurbished and would suit either an owner-occupier, who could live in the upstairs residential unit and operate a retail or commercial business from the ground floor, or an investor, who could add value to the property by leasing it up.
"We have a very motivated vendor who wants to sell and this represents an excellent opportunity to acquire an affordable mixed-use unit in a strong location," Bayley says.
The vacant 175sq m ground floor area was formerly occupied by a restaurant and has a commercial kitchen with the plumbing largely intact. The spacious five-bedroom top floor residential accommodation, also comprising 175sq m, has its own separate entrance, opening up the opportunity to provide separate tenancies, Bayley says. It is currently earning holding income of $550 per week.