Grafton - STANDALONE GRAFTON WITH DEVELOPMENT AND LEASE ...

Description

89 Grafton Road is located opposite Auckland City Hospital and is within walking distance to Auckland University, AUT, and the CBD.

The five-level office building provides approximately 2,131m² of total floor space with 54 car parks, and is situated on 1,386m² of Mixed Use zoned land with a 27m height limit. The property is well positioned to take advantage of the huge demand from the healthcare sector for medical related services, student accommodation, residential apartments, and hotels.

There are several options for purchasers to explore including adding further levels to the existing building and/or constructing a new tower at the rear of the site.

KEY FEATURES:

• 1,386m² Freehold site opposite Auckland Hospital
• Mixed Use zone - 27m height limit
• Floor area approximately 2,131m²
• Current passing net income circa $342,000 with a potential fully leased income of $613,000
• High growth location
• Future development potential