Mixed-use Parnell property has options

5:00 AM Saturday June 3, 2017 True Commercial

The Farnham St building has office space plus accommodation on upper floors. Photo / Supplied

A four-level Parnell building with a Business-Mixed Use zoning is for sale for the first time since being built 10 years ago.

The building, on a 269sq m site at 11 Farnham St, is for sale with vacant possession.

It is being marketed by Millie Liang of Bayleys’ International Division — one of 12 properties scheduled to be sold in the Bayleys Total Property portfolio auction on June 28.

“Well-maintained and presented, it offers an exceptional opportunity for an owner-occupier or add-value-investor looking to secure a high-standard, modern freehold property in sought-after Parnell,” says Liang.

“A flexible Mixed Use zoning means there are a variety of future use options for the next owner.”

Level 1 of the premises contains a mixture of partitioned and open-plan space with wooden flooring and exposed ceiling services that has the potential to provide a good standard of character office accommodation. Amenities include a kitchenette, two bathrooms and a shower.

The two levels above are apartments while the ground floor provides internal garaging for five to six cars, with a fully fenced yard and electronic gate entry offering additional on-site parking spaces. There is lift access to each of the upper levels which are air conditioned and there is plenty of storage space throughout the building, says Liang.

The property’s Business Mixed Use zoning under the new Auckland Unitary Plan means the next owner may be able to use the building’s current configuration for a home based business. Alternatively, it could be fully converted to either commercial or residential use.

The zoning allows predominantly smaller scale commercial activity as well as residential dwellings but does not specifically require a mix of uses on individual sites or within areas.

Liang says the property’s residential appeal is enhanced by its location within the Double Grammar Zone. This has encouraged nearby intensive residential developments, in what was previously a predominantly light industrial and commercial property location.