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Imposing character office conversion on the market for sale
Imposing character office conversion on the market for sale
A large classical character villa located in what has become one of Auckland city fringe’s boutique commercial business strips has been placed on the market for sale.
The grand
two-storey premises - built in the early 1900s – is on the
busy Jervois Road strip running between Three Lamps corner
in Ponsonby and Curran Street corner in what has become a
mix of hospitality, fashion, and high-end retail stores
interspersed with small owner-operated professional service
business premises.
The 340 square metre building sits
on 653 square metres of land and has six car parks available
to the four various tenants. Tenants occupying the building
are:
• Law firm Gregory John Simon which has a three
year lease expiring in August 2015 and a further three year
right of renewal, generating an annual rental of
$59,756.
•
• Bridge City Interior and
Construction Limited which has a three year lease expiring
in August 2015 and a further three year right off renewal,
generating an annual rental of $24,730.
•
• An
established medical tenant, Well for Life Limited which has
two year lease expiring in August 2014 and three further two
year rights of renewal, generating annual rental of
$32,950.
•
• Pogson Health Services Limited which
has a month-to-month lease generating annual rental of
$5200.
•
•
The 88 Jervois Road property is
being marketed for sale by Deadline Private Treaty by
Bayleys Central Auckland sales people Alan Haydock and
Cameron Melhuish, with offers closing on March 5.
Alan
Haydock said the sizeable building had undergone
considerable interior refurbishment in recent years to
create nine separate office spaces and a range of communal
amenities.
The renovation also involved enhancing many
of the building’s original interior features – such as
the native timber floors, doors, wall paneling and
impressive internal staircase. The exterior of the property
is clad in weatherboard with tile roofing, while the car
parking area features an attractive crushed white
stone.
The building’s ground floor has a net
lettable plate of approximately 200 square metres –
comprising a central hallway providing access to the various
offices, a shared boardroom, kitchen and bathroom
facilities. Upstairs has a net lettable floor area of
approximately 140 square metres in a similar configuration
with views over the neighbourhood and the Waitemata
Harbour.
Alan Haydock said the imposingly-grand
home-turned-office complex had the flexibility to either
continue in its current format as an investment, or the
potential to be incorporated into a single company premises
by an owner/occupier business looking to relocate into a
creative workspace close to the city fringe.
“The building, when originally constructed as a residence in the 1920s, was representative of the populous demographic in Herne Bay at the turn of last century - when the area was home to some of the more affluent and professional members of Auckland society. Ironically, nothing much has changed in that respect in almost 100 years,” Alan Haydock said.
“What we have seen, as Auckland’s commercial
zones have both fragmented and expanded, is the increase in
attractiveness of character commercial premises based on
major arterial routes city-wide. This has seen the likes of
evolution of boutique private health clinics, small
accountancy and legal firms, advertising and design studios,
and work-from home businesses, which capitalize on being
high profile yet local.
“Along Jervois Road for
example, many former homes have been converted into a range
of business premises – ranging from a magazine publisher,
and art studio, to a restaurant and accounting
firm.
“A high traffic flow along Jervois Road -
supported by an affluent catchment area in all surrounding
directions - ensures that for residential-to-commercial
conversions, there is always likely to be strong tenant
demand from small owner-operated businesses whose clientele
is derived from adjoining neighbourhoods.”
Cameron
Melhuish said the high profile location of the boutique
premises– virtually opposite the Shelley Beach Road exit
point from the Auckland Harbour Bridge – meant it was well
serviced by public transport and was easily accessed by
private vehicle users.
“The addition of substantial
branding signage and naming rights identification, subject
to any council consents, is certainly an option for any
future ownership of the building,” Mr Melhuish
said.
ends
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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