‘Stacking the deck’ in Grey Lynn

2:36 PM Friday November 24, 2017 True Commercial

The second floor office is leased to Phase 3 Strategic Creative. Photo / Supplied

A second floor Grey Lynn office unit — with a big 23sq m deck overlooking Scanlan St — is on the market for sale.

The tenanted property is being marketed by JLL agents Tom Dobier and Alex Wefers, who are selling it through expressions of interest closing December 12, unless sold earlier.

Located at the corner of Crummer Rd and Scanlan St, the 92sq m office unit has two secure carparks and earns rent of $40,250 per annum.

It is tenanted by Phase 3 Strategic Creative, a digital marketing firm, with a lease running through till December 2019.

“With the lease expiring in two years, we expect interest from both owner occupiers and investors,” says Dobier. “Built in 2008, it should comply with the revised NZ Building Code. It certainly benefits from a fantastic deck space as well as its Grey Lynn location. This unit is well placed in a city fringe location, being one of four units in the development.”

Wefers points out that Ponsonby Rd shopping area is only minutes away, while Grey Lynn Village is within similar walking distance.

SH16 is accessed close by with good public transport links available on nearby Great North and Ponsonby Rds, he adds.

“Considering Auckland’s spectacular growth over the past few years, commercial space in this prime city fringe location is a scarce commodity. Our demographic research suggests further business growth in this area.”

Dobier says the zoning and location are the key benefits.

“With this property being zoned Business Mixed use, it will suit a range of options and make for a very attractive investment. The flexibility of use allows the investor to analyse the market and make a decision based on what they believe will give the biggest return, and due to the size of the property we are not talking a massive outlay to secure the property,” says Dobier.