Commercial investment in city fringe Epsom

A standalone and fully tenanted building on a major arterial road through Auckland’s city fringe suburb of Epsom is on the market for sale by auction.

The property at 109 Great South Road, Epsom has a total of 875sqm of building floor area across three levels, situated on a 1446sqm mixed-use and double grammar-zoned site.

JLL have been exclusively appointed to market 109 Great South Road, Epsom for sale by way of Auction at 10 am on Wednesday 15 December 2021, (unless sold prior). JLL Metro Commercial sales broker, Kevin Reardon said that this is the first time the property has been on the market in almost four decades, as the current owner has owned the building since it was constructed in 1985.

The property has been fastidiously maintained by the current owner and has a separate tenant occupying each floor. The first and second floors have identical floor plates, with the third level being slightly smaller, and enjoying views towards Mt Eden.

“Each level has tenant specific fit out to a high specification,” said Reardon, “however, the actual floor plates are completely open and free of structural columns, with all services being on one side of the building.

The property also includes a generous onsite carpark for 27 vehicles providing an attractive and functional commercial investment opportunity.

“The location is a cut above the rest of the commercial properties on this strip while also backing onto a strong residential catchment. It is an area that will stand the test of time and remain a highly desirable location for businesses.”

JLL Metro Commercial sales director, John Davies said that 109 Great South Road, Epsom, offers purchasers an exceptional investment, with great underlying value in the land beneath the property.

“The property is currently 100 per cent occupied by three well-established tenants, with a total net annual rental of $255,683 per annum, well in line with the market,” said Davies.

“Each tenant operates in a different sector, helping diversify and reduce the risk of the investment.”

Davies said that the zoning and sought-after double grammar Epsom location of the property added an incentive for potential investors.

“Along with the desirable cash flow, there is real value in the land beneath the building, being 1446sqm of not only mixed-use zoning, but also double grammar, ensuring plenty of options for the future. All of these factors combined, means the property holds value not only in today’s terms, but also for future generations.”