City fringe duo should draw variety of bidders

40 Aitken Terrace, Kingsland

The first at 40 Aitken Terrace, Kingsland, will be offered for sale on Thursday November 10 at 10am in Barfoot & Thompson’s head office auction rooms at 34 Shortland St, unless it sells earlier by negotiation.

"The owner has created a property which will appeal to a wide range of purchasers," says commercial broker Reese Barragar who is marketing it for sale with colleague Grant Magill.

The site

The freehold property comprises a rectangular-shaped two-level warehouse building constructed in the mid-1980s with a total area of 383sq m that has been converted into a live and work premises. It occupies a regular-shaped site of 334sq m.

The building encompasses a ground floor area of 170sq m with two components: A workshop and garage area accessed via a roller door and a separate studio/living or office area with its own bathroom.

"This floor, which opens onto the northwest facing courtyard via its own entrance, could be rented to create supplementary rental income estimated at $550 to $650 per week," Barragar says.

The first floor of 203sq m is open plan and ideal for a stylish office and showroom. It is currently configured as a bedroom, bathroom, living area and a kitchen leading to a 10sq m deck.

Barragar says the entire building could be easily reconfigured to suit a buyer. "Perhaps the roof could be popped to create an additional part floor and a roof garden that would feature panoramic views?"

Construction of the building is concrete block with concrete floors throughout. The roof is long run iron and the ceiling of the first level is insulated. All the joinery is aluminium and LED lighting has been installed throughout the premises along with three phase power. The ground floor studio has a heat pump and the courtyard, secured by an electronic gate, has lighting as well as a hot water wash-down hose.

A set of metal stairs with timber treads links the ground and first floors while a goods lift, which is currently decommissioned, runs between the ground and first floors. The workshop area is accessed via an electric roller door.

Location

Magill says the property is situated on the southern side of Aitken Terrace in the block bounded by King St to the east and Mostyn St to the west.

"The immediate locality is made up of mixed commercial and residential properties including several refurbished warehouse buildings that are used as offices and showrooms," he says.  

"The main arterial route of New North Rd, with regular bus services, is close by directly to the south and there are several cafes within a short walking distance from the property.

"The Kingsland shopping strip with its many restaurants, bars, cafes and retail outlets is a 10 minute walk from the property, as is the Kingsland train station.

"In summary, this is a well-located property within the busy Kingsland area close to Ponsonby, Mt Eden and the Auckland CBD with good access to public transport networks and motorway interchanges," Magill says.

8 Putiki Street, Grey Lynn

The second property, also being marked for sale by Magill and Barragar as sole agents, is a rectangular-shaped vacant lot at 8 Putiki Street in nearby Grey Lynn that will be auctioned at 10am on Thursday November 17 at Barfoot & Thompson’s Shortland St auction rooms unless it is sold beforehand by negotiation.

"It’s hard to find an entry level freehold land parcel of 188sq m without body corporate fees but with a monthly holding income, that is flat, with a gentle slope at the southern end and views protected to Mt Eden.

"In addition, it is ready for development with resource consent granted to start building up to three levels with a floor area of around 300sq m," Magill says.

"This property represents an opportunity for a purchaser to custom-build their own dream commercial, residential or combination work-live building just a short walk from Ponsonby Rd with its diverse range of art galleries, architects and designers."

The land is in a Mixed Use zone with an 18 metre height restriction.