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Tenanted investments on high exposure sites for sale

JLL marketing 108 &110 Newton Road, Eden Terrace



Long term investment with development potential/new-zealand/en-gb/news/916/long-term-investment-with-development-potentialAUCKLANDLong term investment with development potential
Former Fire Station on high profile corner site/new-zealand/en-gb/news/915/former-fire-station-on-high-profile-corner-siteCHRISTCHURCHFormer Fire Station on high profile corner site

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Two tenanted investments on offer with multiple options to suit.

Located on Newton Road, a main arterial route in Eden Terrace, the two properties sit in what could arguably be seen as one of Auckland’s latest up and coming areas. Eden Terrace has seen a substantial amount of activity in recent years with six separate apartment projects in some stage of planning, consenting or construction with the area encompassing 240 units including the completed ‘The Orange’ building, which offers an array of office and residential space. 

JLL agent Ben Jamieson is marketing the properties together but with options to buy one or buy both. Both properties are tenanted, one to printing company SMP Solutions and the other to Newton Café and Noodle Bar who have been in operation for more than 10 years offering a secure investment.

Says Jamieson, “For the new owner, these properties offer a solid passive investment with both properties being tenanted until 2022 with good rental growth and well established tenants along with good future development potential.

“Under the Auckland Unitary Plan, mixed use development zones allow for residential and commercial activity and these sites have a height limit of 32.5 metres, so there is also the option to build up.” 

The properties are in a central location being within walking distance of Ponsonby, Karangahape Road and the CBD. “An added perk to this location is that it is just down the road from where the Symonds Street City Rail Link station will be completed in 2023,” says Jamieson. 

Auckland Council’s investment in transport will pay dividends for city fringe property owners. When the City Rail Link opens in 2021, Britomart will become a through-station and Auckland’s entire rail network will benefit from rapid rail access. 

“The City Rail Link will open up areas like Newmarket, Grafton, Eden Terrace and Kingsland, bringing a new level of vibrancy to these locations,” says Jamieson. 

Auckland Council expects the number of city centre and city fringe residents to double by 2041 to 140,000 and forecasts that city centre and city fringe employee numbers will double to more than 200,000. 

Jamieson says all of this development in the city fringe means the future is bright for the new owner of 108 & 110 Newton Road. “Whether the new owner decides to keep this property as a source of passive income or look at development options, Eden Terrace is an excellent place to invest.”​

108 & 110 Newton Road are for sale through an expressions of interest campaign closing 4pm, Thursday 6 July, 2017. 

​Read the True Commercial article here.