Prime Grey Lynn corner site

The corner site in Great North Rd - approximately located within the red border - has a two-level building and 24 on-site carparks. Photo / Supplied

A prominent Grey Lynn commercial property on an elevated ridge-line, is for sale by tender though Barfoot & Thompson Commercial agents Reese Barragar and Cam Paterson who describe the offering - a 1079sq m corner site at 606-620 Great North Rd - "as a prime property in one of Auckland's premier suburbs".

The tender process closes on May 16, unless the property sells earlier by negotiation.

Barragar says the opportunity to sell such properties don't come along every day. "We're seeing the city fringe grow rapidly due to Auckland's continuously expanding population and it will only continue with increased density provided under the Unitary Plan.

"Grey Lynn is experiencing a rejuvenation as residential redevelopment there surges ahead and this adds up to a much stronger demand for supporting commercial space."

The freehold site, on the corner of Great North Rd and Surrey Crescent, includes an additional quarter share of 352sq m and an eighth share of 352sq m, which is the Right of Way allowing drive-through access from Taurangi Rd to Great North Rd.

As well as high exposure on an arterial route, the property has a northerly aspect, and significant development potential. It comprises a two-level building of about 257sq m, breaking down to about 124sq m of retail and 133sq m of lower-ground commercial space.

There's 24 on-site carparks and council rates are set at $13,926 per annum.

"This property comes with vacant possession and prospective tenants are showing strong interest - either to take up a short or long-term tenancy," says Barragar.

"But arguably the real jewel in the crown is its Business Local Centre zoning under the Auckland Unitary Plan.

"Such a zoning bodes well for a wide range of future development options, allowing for a substantial 13-metre height restriction," he says.

Permitted activities include construction of dwellings, commercial, food and beverage, retail, offices or healthcare facilities. This couldn't have a more versatile zoning," Barragar says.