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News Release

Auckland

Investment or development opportunity in South Auckland

JLL is marketing a community medical centre in the heart of Otahuhu


 

 

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JLL is marketing 115 Church Street in Otahuhu. 

JLL agents Sam Smith and Mitch Broderson are selling the property, which is on the market for the first time since 1983. 

The property has a floor area of 742 sqm and is situated on a total site size of 1,353 sqm. The building was recently assessed at 70% in an IEP independent earthquake report.

“The property is tenanted by a community medical centre with a tenant mix including a doctor, pharmacy, optometrist and dentist. It has a number of smaller vacant tenancies, offering excellent opportunities for any astute investor,” says Smith. 

The property is also zoned for residential apartments and terraced housing under the Unitary Plan. This zoning allows for development of up to 16.5m in height, giving purchasers a wide range of options.” 

Otahuhu is located near Auckland International Airport, with transport links to state highway 1 and state highway 20. A brand new transport hub opened in the area in October 2016, offering more frequent bus services and a new train station that connects to the Southern and Eastern railway lines. 

“The area has a good mix of small, medium and large size commercial properties and caters for a wide range of businesses,” Broderson says.

JLL National Research Manager Tom Barclay says the Otahuhu area is set to see substantial growth over the next 25 years. 

“Statistics New Zealand forecasts a 33% increase in population within the Otahuhu local board area. This equates to an increase of over 26,000 people,” says Barclay.  

The growth in population will come as a result of higher density living and the property on Church Street is well positioned to take advantage of this trend.” 

The property is for sale through an expression of interest campaign closing at 4pm on 10 April 2017.​​