Many tenancies and add value potential

2:30 PM Wednesday May 6, 2015 Colin Taylor

Units A and I are in the Trends Centre on Main Highway Ellerslie.

Two adjoining strata titled Mixed Use zoned units encompassed within the Trends Centre at 49 Main Highway in Ellerslie are for sale with multiple income streams from a variety office and retail tenants including the well known Cafe Trends.

“Both of the units designated 49A and 49I are located in Auckland’s Southern Corridor precinct between Newmarket and Ellerslie which has excellent, road bus and rail transportation links,” says Cam Paterson of Barfoot & Thompson Commercial who, with colleague Grant Magill, is marketing the properties for sale by deadline private treaties closing on Thursday May 21. 

“Ellerslie railway station is within 300 metres and the Greenlane and Ellerslie State Highway One motorway interchanges are also nearby,” Paterson says.

The units are immediately adjacent to two major office complexes known as the Millennium Centre and MP2 with two other business parks, Stanway Business Park and Central Park located to the south of the subject property.

Ellerslie township with its wider range of cafes, shops and services is within a short walk of the two units which are zoned Business Activity 4. Permitted activities within the zone include: offices, retail outlets, cafes, restaurants, and takeaway food premises; health care services, motor vehicle sales and service premises; building improvements and hire centres; warehousing, storage and workrooms.

Paterson says both units offer added value opportunities through the leasing up of vacant floor space.

Unit A with a building area of 3308 sq m and decks of 290 sq m was completed in 2006 and comprises two levels of offices with 62 car parks within two levels of secure covered car parking. An upper level of apartment accommodation is excluded from the offering.

The property, generating current annual income of $201,075 from 750 sq m features large floor plates and overall appeal with excellent natural light.

“Most of the office accommodation is fitted out to a high specification with carpeting, air conditioning and suspended ceilings - although vacant space in Level 1 requires carpeting and is non-partitioned.”

Both office levels contain male and female conveniences, paraplegic toilet and shower and a lunchroom to the Trends tenancy on Level 2 which is finished to a high standard.

“The extensive balconies to the northern and western elevations are key features of this space,” Paterson says. “The large landings off the lifts which overlook a feature atrium entrance and stairwell are also highlights of the space.”

Access is via the northern elevation and comprises a glazed stairwell and two hydraulic lifts.

The 3209 underlying parent site has a frontage to Main Highway of 64.65 metres while the rear boundary of 74.39 metres immediately neighbours the Ellerslie Primary School playing fields.

Magill says the strata titled unit at 49 I Main Highway has a total building area of 1824 sq m with 69 secure car parks. “Multiple streams ofincome totalling$361,000 per annum are generated from a number of separate tenancies in Unit I which comprises adjoining The Sawtooth and The Annex buildings,” he says. 

The Sawtooth Building comprises of two levels of offices accommodation and the café area of about 120 sq m on the ground floor; while The Annex building has four floors of offices.

“The parent site was developed in stages and is known as The Trends Centre,” Magill says.

“Unit I contains the Southern Building originally dating from around the 1960 while The Annex was developed in the late 1990s and early 2000s.”

He says the interior of the property has been fitted out to a contemporary standard with the building structure exposed and accentuated.

The two storey refurbished office area with air conditioning and suspended ceilings, comprise a mixture of open plan and partitioned offices extending around a walkway with a full height open atrium and open stairwell leading to the first floor level. Ceilings are timber lined while the floors are polished concrete with an epoxy resin type finish.

The complex includes lunchrooms and kitchenettes along with the male and female conveniences have shower facilities. 

The ground level comprises a former small storage and distribution area which is now used for showroom, with the offices to the rear.

Access to the four levels is by way of a stairwell and a central glazed hydraulic lift. On each level across the front and rear portion is a small but attractively designed and functional deck area. 


What’s on offer?

The property: Two Trends Centre office and retail units.

Location: 49A and 49I Main Highway, Ellerslie.

Agency: Barfoot & Thompson Commercial.

Sales method: Deadline private treaties closing Thursday May 21. 

Features:

  • Multiple income streams from variety of tenants.
  • In popular Southern Corridor.
  • Excellent transport links for staff.
  • Value add potential through leasing vacant space.
  • Close to Ellerslie township. 

Cam, Grant.jpg

Cam Paterson (left), and Grant Magill of Barfoot & Thompson.


For more information on these properties visit:
TrueCommercial.co.nz/1vjym25TrueCommercial.co.nz/1vjym21