Located at 7a Sarawia Street, Newmarket, Auckland - City, this commercial office property presents a unique prime development opportunity. The freehold lot spans 711 sqm with a floor area of 158 sqm and features a building constructed in 1936 with mixed materials for both walls and roof, both in good condition. This property, with 21 carparks, is positioned in a highly desirable location, just a stone's throw from Broadway, Newmarket and Grafton train stations, the Auckland Domain and Museum, and within easy access to motorways. Notably, it lies within the prestigious Double Grammar Zone, offering significant appeal for development.
Since 2017, the capital value of this property has seen a remarkable increase from $3,000,000 to $4,300,000, marking a 43.33% growth. The latest sale recorded on February 13, 2024, was at $4,830,098, significantly higher than the HouGarden AVM of $4,120,000, indicating strong market demand. This property's strategic location and zoning for Terrace Housing & Apartment make it an exceptional opportunity for developers.
Education is a key feature of this property's location, being zoned for Auckland Grammar and Epsom Girls' Grammar School, both with a decile rating of 9, Parnell School (Full Primary, decile 9), and Newmarket School (Contributing, decile 7). This enhances its attractiveness for families looking for quality education options.
Updated on April 05, 2024.
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.19 km | 3 | 3 | -m2 | Year 2024 Month 11 Day 01 | $1,315,000 | Council approved | |
 | 0.16 km | 1 | 1 | 53m2 | Year 2024 Month 10 Day 16 | - | Council approved | |
 | 0.01 km | 1 | 1 | 45m2 | Year 2024 Month 09 Day 27 | - | Council approved | |
 | 0.19 km | 3 | 3 | 138m2 | Year 2024 Month 08 Day 30 | - | Council approved | |
 | 0.03 km | 3 | 2 | 107m2 | Year 2024 Month 08 Day 21 | - | Council approved |