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Auckland

Ellerslie office property for sale on major urban route


 

 

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​​​​​590 Great South Rd Edited.jpg

A two level commercial office building at 590 Great South Road, Ellerslie is available for purchase in Auckland’s Southern Corridor. Situated on a major urban route, commercial property experts JLL expect this office property will be very attractive to prospective buyers due to its central and accessible Ellerslie location.

JLL’s commercial sales and investment agent Ian Hall, is marketing the site for sale by Tender closing Tuesday 17th November 2015 at 4pm.

“590 Great South Road provides excellent road frontage exposure, fantastic parking provision and is very centrally located, just minutes from the southern motorway and only six kilometres from Auckland’s CBD,” says Hall.  

The land area spans a total of 2,277sqm, with a 1,341sqm office build comprising 653sqm of ground floor space, and 688sqm on the first floor; plus an additional 158sqm warehouse and 44 car parks. The two level office structure comprises a mix of large open plan areas, smaller perimeter offices, good sized lunchrooms and spacious boardroom. 

“Stand alone buildings for purchase are very rare to come by in this location, making this a unique opportunity for investors or owner occupiers. Investor interest in this area is continuing to strengthen and with options in other submarkets for occupiers becoming increasingly difficult to find, we expect the Southern Corridor to absorb this overflow,” Hall adds.

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On the ground floor, a double exterior door leads to a common foyer off which a staircase and lift precede to the first floor. Directly off the foyer are two sets of double doors leading to the ground floor tenancy comprising a large open plan area suitable for showroom or office occupancy and also holds a small warehouse/storage area. The warehouse has an approximate stud height of 4.2 metres, full height roller door access to the front, a concrete lined floor and painted concrete block walls. The ground floor tenancy is vacant and presents opportunities for owner occupiers. 

The first floor is currently tenanted to engineering consultancy, Candor 3, who taken up 688sqm plus 22 car parking spaces and hold a three year right of lease renewal period from April 2017. The property provides an annual rental income of $173,544 per annum and the ground floor remaining car parks are leased out separately on a month by month basis.

The first floor opens to a reception and main office area equipped with a mixture of partitioned offices, meeting rooms and open planned areas. The entire floor has ceiling ducted air conditioning, floor coverings, suspended ceiling tile systems and recessed fluorescent lighting. Both the ground and first floors offer individual lunchrooms and amenity areas including disabled bathroom units and separate women’s and men’s toilet facilities.

Hall adds, “With several spaces being upgraded and shrinking options elsewhere, owner occupiers and tenants who require space are likely to explore options in the Southern Corridor. JLL’s latest research states a 3.1% increase in rents in the Southern Corridor over the past quarter and given market conditions and product scarcity we have no doubt that interest in this asset will be high.”

The building was constructed in 1976 with upgrades taking place during 1988 and further refurbishment of areas such as the first floor lunchroom were carried out in 2008. The building’s ground level has recently undergone renovations early 2015 creating a modern open plan office environment.

590 Great South Road is set on a level rectangular lot with dual street entry leading to the front car parking spaces and to the building entry canopy. This site is zoned under Business 4 within Auckland City’s Operative District Plan which permits a wide range of activities. 

Neighbouring tenants include the Millennium Commercial Office Development and large companies such as Restaurant Brands, Genesis, Fletcher Building and Fairfax Media.  The Southern Corridor offers a range of facilities including cafes, gyms and childcare centres in the surrounding areas and is an accessible two minutes to the train station and 25 minutes to Auckland airport.