CBD Standalone commercial building with potential
26, Airedale Street, City Centre, Auckland City
- Proposed Usage
- Floor Area
- 364.00 m²
- Land Area
- 220.00 m²
- Auction Date
- 11:00 - Dec 05, 2018
- Property ID
- Fee simple standalone site of 220sqm (more or less)
- Currently returning approx. $139,000pa gross + GST
- Favourable City Centre zoning enables huge development potential
- Seismic (IEP) rating 50% (C Grade) of New Building Standard
The property occupies exciting inner city location, its zoned City Centre under the Unitary Plan. It contains the most intensive concentration of commercial, entertainment and retailing activities and development in the region.
Within short walking distance to Queen Street, the property is at the heart of the Educational Precinct, with close proximity to Auckland University and Auckland University of Technology. The educational sector currently is the lead occupier of floor space in Auckland CBD.
Multiple opportunities exist for this property. There is an option for investor or developers to add value by converting the upstairs space or redevelop after lease expires. Alternatively there is an opportunity for the new owner to utilise the existing concept plan (available upon request) and potentially develop a 17 storey apartment with 68 units, 50m high, subject to council's approval..