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Auckland

Freehold, standalone in prime Grey Lynn location

JLL marketing 6 Maidstone Street, Grey Lynn, Auckland


 

 

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


​A superb freehold, standalone property at 6 Maidstone Street, Grey Lynn is being marketed by JLL agents Alex Wefers and Jason Armstrong. The property is to be sold by expressions of interest closing 4pm, Thursday 9 August.

Zoned Business Mixed Use under the Auckland Unitary Plan, this two-level property has a floor area of 473sqm and comprises of a 275sqm warehouse with roller door access, mezzanine office of 78sqm, a spacious two-bedroom apartment of approximately 138sqm and covered car parking for four cars.

The building, which would be offered with vacant possession, has an A+ IEP seismic rating and an NBS of 141%. It sits on a 368sqm site and due to the zoning and location, presents a fantastic opportunity for a new owner to utilise it as a work/live premise or develop and enhance the property.

"The self-contained apartment on the second level could be improved by some modernisation and the addition of a new deck to the western side of the property. This proposed decking area would sit on what is currently the roof of the warehouse, offering a spacious deck area of approximately 275sqm and phenomenal views across to the Waitakere Ranges," says Wefers.

"Alternatively, a new owner may decide to leverage off the property zoning and the Ponsonby Height Variation control, which would allow the property to be built up to a height of 27m."

The property is located in one of Auckland's most popular areas with many new apartments in the area compared to five to 10 years ago.

"One of the key benefits of this property is the warehouse space. Many of the warehouses in the area have gone now, having been developed into apartments and this has created a need for properties such as this one in the market. The added bonus of this property is that the warehouse is a good size and is one of the few double height warehouses in the area," explains Armstrong.



The property is in a prime location, situated within easy walking distance to the vibrant area of Ponsonby Road and the restaurants, cafes, bars and retail shopping. It is also close to the Countdown supermarket and the new Vinegar Lane Precinct, where new residential, commercial and retail space has added to the buzz of the area.

The property benefits from ease of access to transport links such as buses, trains and motorways, with Auckland's CBD being only a short drive away.

"One of Auckland's main arterial roads, Great North Road sits at one end of Maidstone Street and has approximately 23,700 cars pass per day during the working week," says Armstrong.

"The area is fast becoming popular for apartment builds due to the amenities and transport options it provides."