"The turn-key top floor is a self-contained commercial office premises, but also lends itself well to conversion into a trendy central Auckland apartment - ideal for a buyer seeking a home and income or live and work type property."
Haydock says the ground floor is occupied by a law firm and also consists of a well-presented commercial office.
"However, its high-profile ground floor position with a frontage on to busy Parnell Rd makes it ideal for retail use, potentially by a food & beverage operator."
He says the 188sq m level will be available in February next year when the tenant's lease expires. In the meantime, the tenant's yearly rent of $62,372 plus GST net provides holding income for a few months while a new owner considers plans for the site.
"The property presents a broad range of opportunities for add-value investors and owner occupiers including refurbishment, residential conversion or a more comprehensive redevelopment of the site."
The property is adjacent to the four-level Geyser building - a well-known Parnell landmark with six green star-rating.
Haydock says the smaller 92 Parnell Rd structure could be demolished to make full use of the site with the construction of a three to four storey building, similar to neighbouring properties.
"Leveraging off the favourable zoning and strong commercial and residential appeal of the double Grammar zone location, such a development could include a combination of retail, offices and residential above.
"The Parnell location is one of the properties greatest attributes; giving quick access to the all the major motorways systems, the Auckland CBD and waterfront which are just a short drive away," he says.
