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News Release

High exposure, modern office/retail building with upside

JLL marketing 415 Great South Road, Ellerslie


 

 

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A freehold, three level office/retail building on busy Great South Road is for sale through JLL.

The 960sqm building sits on a 707sqm site and was built in the 1970s of predominantly concrete construction. It was renovated and extended in 2010 and currently has five tenants and 21 carparks, made secure with pin code access. This solid investment property will be sold through an expressions of interest campaign closing 4pm, Thursday 5 July, 2018.

JLL agent Jason Armstrong says, "Locating a property which presents a great investment opportunity can prove hard to find. However, 415 Great South Road ticks a lot of boxes and will prove to be an attractive option for both owner occupiers and investors.



"The property is currently fully tenanted, although the front tenant is vacating the premises in mid-July this year. This presents the opportunity for an owner occupier to move into the 300sqm vacated retail/showroom space, whilst enjoying the benefits of the income generated by the other four tenancies," he says.

JLL agent Jarred Hill adds, "At present the property is returning $266,885 + GST pa. The mixed use zoning allows plenty of options for use and under the Unitary Plan the new owner can apply to build another floor on the property with a height limit for the site of 18m."

Tenants include Hobby Master, Burrett and Associates, GPS, Focus Environmental and FTA Food Solutions with tenancies ranging from 61sqm to 300sqm.

With many of the properties in the area zoned mixed use, there are a range of business types in the area. Some of the larger businesses include Restaurant Brands, Genesis, Fletcher Building, Fairfax and Transpower. Neighbouring the property is the Millennium Business Centre and just to the east is the Central Park Corporate Centre.

"To cater for the businesses in the area many of the new developments contain cafes and food outlets, while gym facilities and childcare centres can also be found within a short walk of the property," says Hill. 


Located on the corner of Marei Road and Great South Road, the property has a 15m frontage to Great South Road and 45m frontage to Marei Road, making it highly visible to passing traffic. Approximately 24,000 cars pass per day along Great South Road during the working week.

"This location is popular due to its close proximity to motorways, with access to SH1 only a couple of minutes away. The Ellerslie Train Station is also within walking distance. To access the CBD takes approximately 10 minutes and Auckland International Airport 25 minutes. Being on Great South Road also makes the area easy to access by bus, with regular buses passing the site daily," says Hill.