Elevated Investment with CBD Views
7, City Road, Grafton, Auckland City
- Proposed Usage
- Land Area
- 6608.00 m²
- Property ID
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Calling Investors, developers or land bankers...
Positioned high up in a peripheral CBD location looking down over the central CBD and benefitting from easy access to motorway on ramps is this standalone tower opposite the Langham Hotel and adjacent to Symonds Street. Comprising 16 levels in total, the property is situated within easy walking distance to Queen Street and Symonds Street, both of which are main arterial routes for buses feeding the downtown CBD and Grafton, Mt Eden & Newmarket at their peak.
Designed by Sinclair Jones Architects and completed in 1987 as part of a comprehensive development incorporating the adjoining 67 Symonds Street, the sub ground floors now feature newly installed car park lifts and the building was also partly refurbished in 2005/2006 including exterior paint, new windows to ground level, foyer upgrade, lift interior upgrade, upgraded amenities and kitchens to office levels and upgrade of podium levels.
This area of the city has become known as the ‘Learning Quarter’. Wider Auckland expansion, in conjunction with the growth of the Universities, has caused a shortage of serviceable student accommodation in the area. This shortage has generated significant investment in the immediate locality and positioned student accommodation as its own unique asset class. Office towers in the Symonds Street Ridge area are vital in providing differentiated office stock from the inner CBD, while also servicing these specialist property types.
Our vendor has provided a clear instruction to sell and this proud tower has been well kept and maintained. Now is a serious opportunity to invest, inherit strong cash flow and add value or develop over time.