Occupiers And Developers On A Mission To Secure Character CBD Premises

A character inner-city commercial building with future development upside is on the market with big potential for occupiers, investors or developers.

The refurbished three-level premises at 23 Union Street boast impressive character features and an A-Grade seismic rating in a vibrant location in the western CBD.

Now available for sale or lease with vacant possession, the flexible improvements provide an opportunity for a range of owner-occupiers and tenants.

The Union Street site is expected to have strong appeal among occupiers seeking a high-profile CBD headquarters with plenty of parking, while its status with some of the city’s most development-friendly planning provisions makes it ripe for multistorey redevelopment.

The freehold land and building at 23 Union Street, Auckland Central, are being marketed for sale or lease through Alan Haydock, Phil Haydock, Damien Bullick and Andre Siegert of Bayleys Auckland Central.

The property will be sold or leased by way of a tender closing on Tuesday 10 May, unless it is sold or leased earlier.

Alan Haydock said the approximately 2,594-square metre building sat on a largely rectangular site of some 1,897-square metres with 62 car parks. The site offers 30 metres of frontage to Union Street.

“Constructed in the late 1960s, the refurbished building has an Initial Evaluation Procedure seismic rating of 80 percent of new building standard.

“It offers an impressive upper level of high-stud character office space plus a versatile ground floor with a loading dock, that lends itself well to use as a warehouse, office, showroom and/or retail premises. These floors are supplemented with 45 secure basement car parks and 17 open spaces,” said Haydock.

Damien Bullick said the building was generally well-presented with attractive character features including polished wooden floors and great stud heights on both office levels with an exposed pitched ceiling on the first floor.

“A central lift and a loading dock with roller-door access lend further convenience and versatility to this Auckland CBD property.

“The building is of solid construction, with reinforced concrete foundations, concrete and timber flooring and concrete and steel structural framing.

“The exterior features concrete block cladding, with a long-run iron roof incorporating translucent panels allowing natural light to the upper level,” said Bullick.

Haydock said the site’s Business – City Centre zoning supported the greatest intensity of development allowed under Auckland’s unitary plan, in terms of height and floor area, with a 40-metre building height allowance at the Union Street site.

“This zone permits wide-ranging activities including residential, commercial and retail, the possibilities of which are in evidence all around. The property’s position in the Victoria Quarter places it in a vibrant commercial and residential precinct which is seeing significant growth,” said Haydock.

Siegert said the precinct had attracted numerous cutting-edge professional and creative companies.

“The site for sale is also surrounded by several large apartment developments, including the Sugartree, Union & Co and Ascent complexes.

“The area offers easy access to numerous cafes, bars and restaurants, and is handy to major city amenities and attractions such as the Viaduct, SkyCity, Queen Street, Britomart and key motorway interchanges,” Siegert said.

Click here for more information on the listing.

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