Otahuhu Medical Centre site for sale

5:00 AM Saturday March 25, 2017 True Commercial

The property for sale at 115 Church St, Otahuhu, is identified by a red border. Photo / Supplied

The building housing Otahuhu Medical Centre, with the tenant-mix including a doctor, pharmacy, optometrist and dentist, is on the market for the first time since 1983.

JLL agents Sam Smith and Mitch Broderson are selling the freehold property, with expressions of interest closing on April 10.

The rectangular concrete and masonry block building at 115 Church Street has a floor area of 742sq m and occupies a 1353sq m site.

Smith says an independent earthquake report recently rated the building at 70 per cent of the New Building Standard (NBS).

“Having two levels and space for four additional tenancies, this property offers excellent opportunities for any astute investor. It is also zoned for residential apartments and terraced housing under the Unitary Plan - allowing for development of up to 16.5m in height, giving purchasers a wide range of options.”

The brokers point out that Otahuhu is close to Auckland International Airport with a new bus station and train station forming part of a new transport hub.

“The area has a good mix of small, medium and large size commercial properties and caters to a wide range of businesses,” Broderson says.

JLL’s national research manager Tom Barclay says the Otahuhu area is set to see substantial growth over the next 25 years.

“Statistics New Zealand forecasts a 33 per cent increase in population within the Otahuhu local board area which equates to an increase of over 26,000 people,” says Barclay.

“The growth in population will come as a result of higher density living and the property on Church Street is well positioned to take advantage of this trend.”