For the first time in 12 years, an Auckland city fringe freehold commercial property is for sale in the heart of Newmarket with a single short term-tenancy in place.
"It offers the purchaser a blank canvas with many options," says Cam Paterson of Barfoot & Thompson Commercial who, with colleague Kim Loo, is marketing 1 Melrose St for sale by tender closing at 3pm on Thursday, March 22 unless it sells prior to that date.
Paterson says the high-profile, rectangular, flat and strategic site of 364sq m has a width of just over 12m and a depth of just under 30m. It is occupied by a single-level polished concrete and exposed brick building of 363sq m with a mezzanine floor.
"It's 35 metres south of Khyber Pass, a major inner city arterial adjoining Newmarket and Newton, with quick access to the on-and-off ramps of the southern motorway section of State Highway 1. Only 400 metres from Grafton train station, the property is just 340 metres from Broadway - Newmarket's main retail strip.
"The building has excellent natural light and is divided into two self-contained tenancies. However, it could be opened up for one large single larger tenancy and a buyer could increase the property's retail appeal by refurbishment," he says. "Then there's the option of redevelopment, to take advantage of the favourable Mixed zoning and nearby schooling."
