ROYAL ADD VALUE OPPORTUNITY IN THE CBD
2, Princes Street, Auckland City
Price On Application
- Proposed Usage
- Floor Area
- 2804.00 m²
- Land Area
- 1121.00 m²
- Property ID
Enquire about this property
Here is your chance to take advantage of a genuine opportunity to add value to a strategically located, well recognised CBD fringe office building. 2 Princes Street is a 4 level office building situated on the Eastern side of the CBD - on the corner of Princes Street and Eden Crescent. The property has excellent exposure and is perfectly positioned at the top of the Shortland Street/Eden Crescent ridgeline. Constructed in 1967 on 1,121sqm of core land the building has a net lettable floor area of approximately 2,804sqm together with 29 car parking spaces.
There are very few genuine value add opportunities in the CBD fringe but 2 Princes Street stands out from the crowd as the one for those buyers waiting for the chance. All the ingredients are there for an incoming buyer due to the immediate and medium-term value add possibilities through structured and market rental increases. Looking to the future, the property is ideally suited for repositioning. Commercial or residential conversion are possibilities, taking advantage of the favourable zoning and holding income.
In addition to the strategic investment appeal, the location of 2 Princes street further reinforces the desirability of the property. Within walking distance are all the city centre amenities including top cafes, restaurants and bars. Furthermore, transportation is taken care of as it is well connected to city Link bus routes, Britomart train station and access to motorways in all directions.
Assets of this nature with the value add upside on offer rarely transact in the CBD fringe, make sure you don’t pass up the chance to own this premium central city address.