Impressive Mount Eden character villa for sale

Located on the fringe of Mount Eden’s thriving commercial precinct, a substantial character villa housing commercial and residential tenancies in Auckland Grammar Zones is placed on the market for sale.

Rarely available and in short supply this standalone, two level 1930’s villa is prominently positioned opposite the Normanby Road intersection at 199 Mount Eden Road.

This property will satisfy a shortage of commercial and residential investments in the Mount Eden area as well as providing an opportunity for a purchaser to own and occupy, or develop the site further with surplus land at rear.
The Mount Eden Road property is fully tenanted by a mix of professional and residential occupants –generating an annual income of approximately $75,100.

The tenancies within the main 250 square metre two-level Villa consist of:

A boutique legal practice which has been based there since 1983, and a medical services clinic leased to Bay Audiology

Two separate two-bedroom residential tenancies on the first floor.

In addition to the main building is a 30 square metre three-room cottage at the rear of the site, which is leased to an artist.

Both buildings are serviced by parking directly in front of the property and five car parks at the rear accessed by a right-of-way. The buildings sit on a total land area of 547 square metres and are being marketed for sale by auction on August 3 by Bayleys Auckland salespeople Clint Barber and Rachael Pittaway.

Mr Barber said the nature of the property was stereotypical of the type of business premises highlighted in Auckland Council’s Auckland Unleashed discussion blueprint circulated earlier this year.

“Fringe residential dwellings have been gaining council consents for conversion into professional services or home-business premises, such as medical centres, pre-school facilities, accountancy firms or legal practices for a number of years now,” Mr Barber said.

“It is a practice which has the tacit support of the council. What were once clearly defined industrial/commercial and residential boundaries have now become grey ‘mixed use’ zones. Section sizes and building structures have tended to self-govern the availability of this type of expansion,” he said.
“Both Mt Eden and Kingsland are seeing this professional premises conversion-creep. The trend is particularly evident along the Mount Eden Road arterial route as suitable premises for development at the nearby Normanby Road precinct are no longer existent, and small companies look for character and heritage style locations with the added benefit of no-charge on-site parking amenities.”

Mr Barber said that while the 199 Road Mt Eden building had two residential tenancies upstairs, there could be an opportunity to convert these into what could be a single commercial or residential use for one small-to-medium sized commercial tenant. The property has a rateable value of $1.030million.
Rachael Pittaway said numerous infrastructure services – particularly in the hospitality and foodservice sectors - had grown to support the quickly growing Normanby Road/Mt Eden professional services hubs.

“The building at 199 Mt Eden Road is well located, minutes from Mount Eden Village on a well-serviced public transport route for both rail and bus options. As well as having the large, flat car parking facility at the rear for staff, there is excellent parking to the front for customers and clients, which is a rarity in this area” she said.

“There is substantial growth and development potential from the surplus land at rear. The nature of the established tenants ensure a sound investment with add value potential or the ability to own and occupy as desired.”