Classy Newmarket building offers buyer extensive range of uses

The property is in the centre of one of Auckland's top-flight areas.

The former Continental Cars dealership premises on a prime site near Newmarket is for sale.

The property is being marketed for sale by deadline private treaty, closing on August 9, through Charlie Oscroft and John Davies of Colliers International unless it sells earlier.

The 645sq m two-level building on the 1736sq m corner site at 82 Great South Rd was originally constructed as an office and converted to a high-quality, modern showroom in 2001.

"This building and its prime location close to Newmarket and Greenlane offers great flexibility for the future owner," Oscroft says. "It is offered with vacant possession, allowing a developer or owner-occupier to take possession and immediately modify it to suit a variety of uses."

The the property would be ideal for a "destination business" or retailer. It could be converted back to offices, and with the relevant consents could possibly be used for a childcare centre, gym or cafe. "This location, on a major arterial near large retail and residential areas is ideal for public amenities and services as well as retail use, and the property is made even more convenient for customers as it has 43 car parks."

When the building was altered for use as a vehicle showroom, modifications included removing part of the first floor to create a double-height space. But as many of the structural beams are still in place the floor could possibly be reinstated to increase the floor area.

Davies says that the residential 7A zone means an apartment conversion would also be a possibility.

"The property is located within double grammar zones - a factor which is well known to increase demand for residential property in central Auckland - and with the city's much-publicised upcoming housing shortage, we expect to receive interest from developers looking at the possibility of residential conversion.

"It offers developers and owner-occupiers a fantastic opportunity to create a high-value asset in a prime location," Davies says. The leasehold property is on Dilworth Trust Board land.

A perpetually renewable 21-year ground lease is in place, with a just-completed rent review locking the ground rent in at $152,700 a year. The fit-out is of very high quality, with extensive glazing on two sides. An internal staircase leads to mezzanine offices which are very well presented with large windows, Davies says.

The configuration provides high and low stud showroom areas and amenity areas as well as the upstairs offices.

The property offers great street appeal because of its corner site on Great South Rd and Mauranui Ave, opposite the Dilworth School playing fields.

"The corner position gives easy access and there are multiple vehicle access points along the property's substantial frontage to Great South Rd as well as along the Mauranui Ave frontage, Davies says.

It is also very close to - and visible from - the Southern Motorway."