Howick office property has Westpac tenant

6:34 PM Friday February 22, 2019 True Commercial

Westpac is the ground floor tenant at 19 Wellington St, Howick. Photo / Supplied

The sale of a prominent multi-level office property in Howick is being marketed as presenting a rare investment opportunity in one of Auckland’s established suburbs.

Investment sales broker Chris Wakim and director Matthew Barnes of Colliers International are marketing the 887sq m property at 19 Wellington St, which is for sale by deadline private treaty closing at 4pm on March 6, unless it sells earlier.

Wakim says the 1012sq m freehold site has a versatile Business Mixed Use zoningand sites in the centre of Howick are tightly held.

“Here’s the chance to secure a large suburban office holding in a well-heeled and popular part of Auckland. With 29 allocated car parks and two levels of office space, this offering is easily adaptable for a range of occupiers,” he says.

“Alternatively, developers may wish to unlock the potential of the site by planning a residential or mixed-use redevelopment.

The property comprises a 473sq m ground floor and 414sq m first floor above a basement car park.

The first floor is available immediately with vacant possession, making it ideal for owner-occupiers.

The ground floor is tenanted by Westpac with a lease expiring in October, potentially allowing a new owner to take full possession if Westpac chooses not to renew its lease.

The car park can be accessed via the building’s entrance, making it convenient for service vehicles and customers as well as staff.

Recent works have been carried out on the property including a new roof and a refurbished first floor.

The rectangular shaped property has about 22m of frontage to Wellington St, close to the main intersection with Picton St.

“This gives the property great exposure to both passing vehicle and foot traffic on Wellington St,” says Wakim.

Barnes says Howick is a popular suburb that is predominantly residential in nature.

“The locality is well positioned between Auckland’s CBD and the eastern suburbs of Highland Park, Botany Downs, Cockle Bay, Shelly Park, Mellons Bay, Bucklands Beach and Somerville.

“Howick benefits from many local, national, and international retailers, along with health and public services close to the site.

“The village has been experiencing growth and gentrification in recent years through local initiatives such as the 30 Year Heritage Plan.”

Nearby commercial centres include Botany Downs, Pakuranga and East Tamaki.