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News Release

Auckland

Two solid warehouses in pivotal location for sale

JLL marketing 45A & 47A Normanby Road, Mt Eden


 

 

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DJI_0004 with boundary small-min.jpgTwo tidy mixed-use warehouse/office units will attract owner occupiers and investors.

Located on Normanby Road, which is currently seeing significant development, these two warehouse/office units at 45A & 47A present an opportunity for both owner occupiers and investors. 

JLL agent Ben Jamieson is marketing the properties through expressions of interest campaigns set to close on 27 July and 3 August, 2017.

“Considering the tightly held location and low vacancy rates, such an offering is extremely rare particularly seeing both units have ample parking, generic layouts and are of good construction. The properties are also zoned mixed use, which will provide for an array of future uses,” says Jamieson.

45A Normanby Road is being offered with vacant possession from October of this year when the current tenancy ends and 47A has a holding income of $110,000 net pa with significant rental upside in the near future. The unit at 47A has 15 car parks and with a 603sqm floor area is slightly larger than that of 45A, which has a 585sqm floor area and 10 car parks. 

The City Rail Link is just moments away and the two properties are in close proximity to the likes of Newmarket, Ponsonby and the CBD, not to mention right on the doorstep of major transport routes. The opportunity exists to purchase one or both properties as they are located in the same development on what is a significant site in the Grammar zone.

“This part of Mount Eden has seen a substantial amount of activity in recent years and gone from light industrial to luxury apartments and offices in more recent years says,” Jamieson.

The location is key for these properties with the City Rail Link set to open in 2021, which will extend the rail system past Auckland’s Britomart station to connect to the existing regional rail network at Mt Eden, with the Mt Eden station to also be redeveloped. “The City Rail Link will provide rapid rail access to areas such as Mt Eden, Newmarket, Grafton, Eden Terrace and Kingsland, and it is expected to bring more people and business into these areas,” 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. 

Read the ​True Commercial article here.