Morningside investment with upside
• 965sqm (approximately) standalone building with 5 car parks
• 815sqm (more or less) freehold landholding
• Development Intensive Business - Mixed Use zoning
• Fully leased returning $130,198 + GST (if any)
Offered to the market for the first time in over 50 years, this standalone building presents a rare opportunity to secure a versatile investment with future upside in one of Auckland's fastest-growing city fringe precincts. The 965sqm building comprises two levels of high-stud, clear-span accommodation with vehicle access to both floors, providing outstanding functionality and flexibility.
Fully leased to two established tenants, the property provides immediate holding income while purchasers consider future rental growth and value-add opportunities. The Development Intensive zoning offers scope to retain as an investment, repurpose, reposition, occupy or redevelop as market conditions evolve.
Positioned in the heart of rapidly transforming Morningside and surrounded by substantial residential and commercial investment, this is a tightly held opportunity with multiple pathways to create value.
The property can also be purchased together with the neighbouring 9 McDonald Street, creating a combined landholding of approximately 1,629sqm.
• 815sqm (more or less) freehold landholding
• Development Intensive Business - Mixed Use zoning
• Fully leased returning $130,198 + GST (if any)
Offered to the market for the first time in over 50 years, this standalone building presents a rare opportunity to secure a versatile investment with future upside in one of Auckland's fastest-growing city fringe precincts. The 965sqm building comprises two levels of high-stud, clear-span accommodation with vehicle access to both floors, providing outstanding functionality and flexibility.
Fully leased to two established tenants, the property provides immediate holding income while purchasers consider future rental growth and value-add opportunities. The Development Intensive zoning offers scope to retain as an investment, repurpose, reposition, occupy or redevelop as market conditions evolve.
Positioned in the heart of rapidly transforming Morningside and surrounded by substantial residential and commercial investment, this is a tightly held opportunity with multiple pathways to create value.
The property can also be purchased together with the neighbouring 9 McDonald Street, creating a combined landholding of approximately 1,629sqm.
Key features
Zoning
Development Intensive Business - Mixed Use
Parking
Five (5) car parks
Passing income
Fully leased returning $130,198pa + GST (if any)
Land area breakdown
815sqm (more or less) freehold landholding
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