This striking freehold property is for sale at 8 Newton Road, Grey Lynn.
This striking freehold property is for sale at 8 Newton Road, Grey Lynn.
Two vacant properties providing live and work options on sought after Mixed Use zoned sites will go under the hammer early next month as part of Bayleys' final Total Property portfolio auction of the year.
One is a two level 364 sq m building on a 281 sq m siteat 33 Randolph St, Eden Terrace, which is being marketed by Damien Bullick, Jean-Paul Smit and Alan Haydock of Bayleys Auckland. It is among 46 offerings to be auctioned on Wednesday, December 2 unless they are sold earlier by negotiation.
Bullick says the highly versatile Eden Terrace property offers a wide range of options for both owner occupiers and investors. "It includes the potential to both live and work on site, convert the upper level to residential, or add further value to the property by increasing the size of the building," he says.
"The property's Mixed Use zoning has a height limit of 15 metres and that zoning continues under the Proposed Auckland Unitary Plan (PAUP). However, this particular property falls within a special height overlay zone which will result in the limit more than doubling to 32.5 metres with no floor to land area ratio restrictions as is the case under the existing zoning. This should allow the property to be more intensively developed should the purchaser wish to investigate this option."
Interior view within the property at 8 Newton Rd, Grey Lynn.
The ground floor of the building has 182 sq m of warehousing with a full height roller door at the front of the building and a small partitioned workroom with access to a secure storeroom at the rear.
The upper floor, also of 182 sq m, is accessed via its own stairwell that leads to a refurbished loft style office or apartment. "This north facing character live or work space has a spacious open plan area with a modern kitchen and bathroom plus four rooms - one with access to its own private deck - which could be used as offices or bedrooms," Bullick says.
"Both levels have high stud ceilings with good natural light provided by windows and skylights and the property also has four valuable off street carparks."
The two level building for sale at 33 Randolph St, Eden Terrace.
Smit says Eden Terrace is an increasingly popular and sought after city fringe suburb which has become a popular residential location following numerous apartment developments, with further complexes under construction. "It is close to the CBD and motorways and is a short distance from transport links. The intensification of an already flexible zoning is likely to see this location continue to grow both commercially and residentially."
A similar standalone, freehold property at 8 Newton Road, Grey Lynn will also go up sale with vacant possession at the same December 2 Total Property auction. The 317 sq m building on a 304 sq m site, also with four on-site car parks, is being marketed by Cameron Melhuish of Bayleys Auckland.
"This striking architecturally designed building has been meticulously refurbished to a high standard and offers significant flexibility which, in combination with the underlying Mixed Use zoning, means it has a wide range of potential uses," Melhuish says.
"The 185 sq open plan ground floor, once a workshop, has been superbly renovated and has an elegant character ambience with polished concrete flooring and exposed beams. Its roller door has been retained with the balance of its frontage now featuring frameless glazing. This stunning space presents a variety of options. It would be suitable for showroom, commercial workrooms or office use or it could possibly be integrated with the New York-loft style apartment above. "
Interior view of 33 Randoph St, Eden Terrace.
The upper level comprises a 103 sq m apartment with a spacious open plan living and dining area, onebedroom and a bathroom plus a 29 sq m mezannine level.
"It has an impressive stud and significant glazing provides well lit living spaces plus attractive views and there is generous decking for outdoor entertaining. The apartment has been recently externally refurbished with a lightweight laser cut steel cladding that has modernised the overall appearance of the building."
The property is located close to the intersection of Ponsonby Rd, Karangahape Rd and Great North Rd.
"This is a premier city fringe position just a short walk from vibrant cafe and restaurant precinct of Ponsonby and also handy to the CBD and all motorway interchanges," says Melhuish.
The property's Mixed Use zone permits residential, business, educational and leisure uses. The height limit of 15 metres will remain in place under its Business City Centre zoning under the PAUP with a floor area ratio of three square metres of building to one square metre of land allowed.
