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An urban development site in a high-growth location along Auckland’s western corridor, with diversified cash flow, features enormous potential for investors eager to collect income while making development plans.
The 2,315sqm (more or less) freehold land parcel at 3068-3088 Great North Road is held in two titles and is in a prime position less than 300m away from the award-winning New Lynn Transport Interchange and railway station. Comprising 11 tenancies largely occupied by longstanding tenants, the premises generates an annual net rental income of approximately $450,000.00 + GST. National brand fast-food retailers, including Burger Fuel, Domino’s and Sal’s Pizza, occupy the premises, in addition to a barber’s shop, pharmacy and optometrist, which each have leases of varying terms.
Zoned Business Metropolitan Centre for future development opportunities, the property is positioned within the heart of developing and thriving New Lynn with residential apartments in the vicinity and future residential developments marked for the area. The height allowance of up to 72.5m will provide flexibility and opportunities to the new owner(s). Underpinning the property’s development potential is dual street access. Primary access is from the main arterial Great North Road – a major Auckland thoroughfare which connects the fringe of Auckland’s CBD to West Auckland. The property benefits from a secondary access point from McCrae Way.
• High profile freehold site with combined total area of 2,315sqm (more or less)
• Eleven tenancies returning approximately $450,000.00p.a. + GST
• Unparalleled street exposure on Great North Road and secondary access point from McCrae Way
• New Lynn train station and LynnMall all in close reach
• Business - Metropolitan Centre Zoning
• Buy now to hold or make your architectural vision a reality!
Sale by way of International Tender (unless sold prior), closing at 4pm Thursday 23 March 2023 at Bayleys House, 30 Gaunt Street, Auckland, New Zealand
Detailed Tenancy schedule upon request