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Auckland

Fully tenanted, freehold office a solid investment

JLL marketing 626 Great South Road, Ellerslie


 

 

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​A freehold 1980's four level office building on Great South Road in Ellerslie is for sale through JLL agents John Binning and Ian Hall.

The 2,647sqm free standing building sits on a 2,878sqm site and has 90 carparks with some secure covered parking and the remainder uncovered. It will be sold through expressions of interest closing 4pm, Wednesday 25 July.

"This property represents a superb investment opportunity with all four levels of office being fully tenanted and returning $794,310p.a. with a weighted average lease term of circa 2.7 years," says Binning.

"With an NBS of 77 per cent, the property is zoned Mixed Use under the Auckland Unitary Plan, which would enable it to take on varied uses such as medical facilities, gymnasium, café or retail," adds Binning.

"This property has great fundamentals, a very competitive per metre rental and high car parking ratio which has made it consistently popular with tenants. These factors coupled with the property having been owned and professionally managed by a listed property trust make it a very tidy and attractive investment," explains Hall. 



Current tenants include Housing New Zealand, TBI Health, International Accreditation and Telarc SAI Ltd.

Located on the eastern side of Great South Road, the property is only 1km north of the Ellerslie Panmure Highway and links to motorways both north and south.

"The area is very popular with businesses with 24,000 cars passing along Great South Road during the working week," says Hall. "Location-wise the site is easy to access with the motorway link close by. From the property the CBD is approximately 10 minutes by car and Auckland International Airport is about a 25 minute-drive away.

"From a public transport perspective, the Ellerslie Train Station is within a 10-minute walk and with Great South Road being a main arterial for the area, regular buses pass the property daily."

In addition to transport links, due to the high volume of businesses operating in the area childcare facilities, cafes and gymnasiums are all within walking distance.

"The Central Park Corporate Centre is only a few minutes-walk up the road and this development has led to additional cafes and gym facilities to cater for the volume of people working in the area," says Hall.