Warehouses in Mt Eden’s heart

5:00 AM Saturday July 8, 2017 True Commercial

The warehouses, indicated by red lines, are set amidst a burgeoning development zone in Normanby Rd. Photo / Supplied

Two tidy mixed-use warehouse and office units will attract owner-occupiers and investors, says JLL agent Ben Jamieson.

Set in the burgeoning development zone in Normanby Rd, the warehouse and office units are standout offerings in a tightly held location, according to Jamieson.

He is marketing 45A and 47A Normanby Rd through expressions of interest campaigns, which are set to close on July 27 and August 3 respectively.

“Such an offering is extremely rare particularly seeing both units have ample parking, generic layouts and are of good construction. The properties are also zoned mixed use, which will provide for an array of future uses,” says Jamieson.

45A Normanby Rd is being offered with vacant possession from October of this year when the current tenancy ends; 47A has a holding income of $110,000 net per annum with significant rental upside in the near future.

The unit at 47A has 15 carparks and with a 603sq m floor area is slightly larger than that of 45A, which has a 585sq m floor area and 10 carparks.

The City Rail Link is just moments away and the two properties are close to Newmarket, Ponsonby and the CBD, along with being on the doorstep of major transport routes.

Both or just one of the properties can be purchased as they are in the same development on a significant site in the Grammar Zone.

“This part of Mt Eden has seen a substantial amount of activity in recent years and gone from light industrial to luxury apartments and offices in more recent years says,” Jamieson.

The location is key for these properties with the City Rail Link set to open in 2021, which will extend the rail system past Auckland’s Britomart station to connect to the existing regional rail network at Mt Eden, with the Mt Eden station to also be redeveloped.

“The City Rail Link will provide rapid rail access to areas such as Mt Eden, Newmarket, Grafton, Eden Terrace and Kingsland, and it is expected to bring more people and business into these areas,” says Jamieson.

Auckland Council expects the number of city centre and city fringe residents to double by 2041 to 140,000 and forecasts city centre and city fringe employee numbers will double to more than 200,000.