A significant, high-profile re-development site in the popular, central Auckland suburb of Greenlane is finally offered to the market for sale after 37 years at 576-580 Great South Road.
Marketed by sole agents Deborah Dowling and Brett Whalley of CBRE, this 4,683sqm freehold site and buildings are for sale by way of Deadline Private Treaty, closing 15 August 2019 at 4pm unless sold prior.
Dowling says: “Owner-occupier Rod Milner Motors is a thriving family business that is now considered NZ’s leading disability vehicle conversion and sales specialists. They have outgrown this property, making it time to sell and move on. Other occupiers on the site - national branded tyre retailers Beaurepaires, plus temporary residential tenancies - are only on periodic terms, supplying holding income while the site waits for redevelopment.
“Location, profile, access, size, contour and zoning: this property offers the purchaser significant potential not only to generate income as is, but it also offers considerable re-development potential for commercial, residential, retail, medical, hotel, retirement, church, educational and many other uses.”
The property occupies a number of freehold titles totalling 4,683sqm site at the busy junction of Great South Road and Main Highway, locally known as the Harp of Erin intersection. Recognisable to any of the 44,753 cars (shown as the daily average over five working days on Auckland Council’s website) that pass the site every day, the property has dual street frontage immediately south of the Z Service Station on Great South Road .
The property features two 1960s-era showroom buildings, one occupied by Rod Milner Motors and the other by Beaurepaires. Also on site is a workshop space that links with a multi-level office building that fronts Main Highway. The property also features a 1,700sqm car yard that provides capacity for an estimated 100 vehicles.
The Rod Milner component comprises a showroom for displaying vehicles for sale, linking with the workshop and office building. The upper levels of this building are partially utilised as commercial office accommodation, with a residential apartment on the upper floor.
To the rear of the showrooms are two workshop areas, one used for fitting tyres and the other as a mechanical workshop. Approached from the Main Highway, the multi-level building offers asphalt forecourt with several partially covered car parks at basement level.
Also, on the property, at 7 Main Road is a two storey 2000-era house offering four bedrooms and two bathrooms with internally accessed double motor vehicle garaging.
Brett Whalley says that a notable feature of the site is the fact that it extends through to the Main Highway, offering dual street frontages and accesses.
“But it is the zoning that really tees up development potential here. The property is zoned Business – Mixed Use under the Auckland Unitary Plan, which provides for generous options that allow for a wide variety of end uses.
“This block of land lies within the Southern Corridor, a place where extensive development has taken place during the last decade. Many of the car yard sites have been upgraded to showrooms occupied by franchise car dealerships, and to the south along Great South Road is the extensive mid-rise Millennium Centre office development. Greenlane is well known for its leafy green streets and well-established generous housing. In the past few years we have seen many new intensified residential developments and apartments blocks come into the area bringing new growth and vibrancy.”
Close to two train stations, and on public bus routes the property is approximately five kilometres south of Newmarket and eight kilometres south of Auckland’s CBD, with nearby access via Great South Road or the Southern Motorway, exiting at either Greenlane or Ellerslie/Penrose. Drive time to the central city is a little more than ten minutes in normal traffic conditions.ABOUT CBRE GROUP, INC.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
