Newmarket office and showroom unit

4:06 PM Friday March 16, 2018 True Commercial

Unit 96E in Carlton Gore Rd, Newmarket is indicated by a blue border. Photo / Supplied

A premium showroom and office unit in the Auckland city fringe suburb of Newmarket is on the market for the first time in 15 years.

The 755sq m unit at 96E Carlton Gore Rd is featured in the just-released Colliers Portfoliopublication and is being marketed by David Burley and Simon Child of Colliers International who are selling it by auction 11am on Wednesday April 18 — unless it sells earlier.

“This strategically-located, high-profile property is available with vacant possession, giving owner-occupiers the chance to buy at auction and move in straight away upon settlement,” Burley says.

“The property is well suited to a business seeking a good mix of showroom and office space, and could be a great option for medical occupiers, many of which are already established in the Carlton Gore Road area.

“Alternatively, add-value investors could buy, reposition and re-lease the property, to make the most of Newmarket’s excellent trading fundamentals.

“City fringe retail vacancies are very low, making properties like this an astute investment proposition.”

Burley says Newmarket draws its clientele from residents of Auckland’s wealthy central-eastern suburbs, along with a significant residential and employee catchment of its own.

“The city fringe suburb’s population is about 4500 and increasing rapidly,” he says. “Around 1900 local businesses employ about 15,000 people.”

True Commercial - 96 Carlton Gore Rd - interior.jpg

The 755sq m unit offers a good mix of showroom and office space. Photo / Supplied

Child says the property for sale is part of mixed-use residential, office and retail development located next to the Auckland Domain.

“The property has a ground floor showroom and a mezzanine office, with a feature staircase linking the two levels.

“Off-street parking for 21 cars is provided, and there is good motorway access on nearby Khyber Pass Rd and Gillies Ave.

“The area is well served by two train stations, with Grafton and Newmarket stations nearby.”

Child says Carlton Gore Rd is home to established national and international brands including Vector, Fidelity, IBM, Tegel, Arnott’s and Fuji Xerox.

“The well trafficked through-road has also become a prime location for premium showroom retail as well as specialised medical services,” he says.

Amenities in the local area include an Olympic Pool and gym, cinemas, extensive car parking, Auckland Museum, Auckland City Hospital, Auckland Grammar School and Epsom Girls Grammar.

The property is zoned Business Mixed Use, making it suitable for a range of different users.

Burley says Scentre Group’s $790 million investment in a major redevelopment and expansion of its Westfield Newmarket shopping centre shows the area’s appeal as a retail destination remains strong.

“We anticipate sustained demand for retail space over the two years that Westfield Newmarket’s doors are shut for redevelopment,” he says.

“In addition, we expect demand to remain buoyant even after the shopping centre re-opens, with Auckland’s first David Jones department store likely be a strong drawcard to the area.”

Burley sees an opportunity to acquire a city fringe showroom or medical property at a time when retail vacancies remain low.