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News Release

Stylish mixed use unit in top uptown location

JLL marketing 6-10 Nikau Street, Eden Terrace


 

 

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A recently refurbished mixed use space in the uptown location of Eden Terrace is for sale through JLL.

JLL agent Ben Jamieson is marketing the property, and says it has a lot to offer either investors, owner occupiers or developers.

"This freehold property offers a 903sqm site with a decent size building of 704sqm with 15 carparks. The property at present, is utilised as a large showroom with offices downstairs along with a four-bedroom apartment also in the mix.

"The current owners have refurbished the property installing new kitchens, bathrooms and polishing the concrete floors. The result is a property anyone would be proud of," says Jamieson.

At present the property is tenanted by the vendor, production company Fresh Factory, who have been located there for approximately two years.

"Fresh Factory have converted the space, which was originally a warehouse to accommodate shooting space for high-end brands and publications such as BMW and Cuisine magazine. Therefore, the finishing is of a high standard as this was important to their imagery," says Jamieson.

The four-bedroom apartment on the upper floor offers views out to the east and west and has a private courtyard. Also on the upper floor is the showroom, where Fresh Factory complete their photography/videography work.

On the lower level of the property is an open plan office complete with a well-presented kitchen and a west facing deck area to make the most of the morning sun.

"A bonus to this property is land out the back of the property, which Fresh Factory are currently not using. This land could be utilised as extra car parking or development of the space could be explored. Being zoned mixed use under the Unitary Plan also means the density of the site can be increased by adding additional floors to the existing structure to capitalize on the advantageous zoning." says Jamieson.

The property is only five minutes from Auckland CBD with regular buses passing along nearby New North Road and the Mt Eden train station also in close proximity along with access to Northern, Western and Southern Motorways.

"Eden Terrace is one of Auckland's highest growth suburbs having seen spectacular capital growth in recent years. Our demographic research points to strong population and business growth and a corresponding growth in demand for the commercial and residential sectors," explains Jamieson.

The property is being offered with a holding income and Jamieson says Fresh Factory has allowed lease options to be flexible, "The opportunity exists for a new owner to either enjoy a steady income over all or part of the property for a short lease term, or take the building with vacant possession immediately," he says.

The property will be sold through an expressions of interest campaign closing Thursday, 22 March 2018 (unless sold prior)