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NZ Grey Lynn property offers big scope for range of uses

Property Here - Saturday, September 28, 2013

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A smaller commercial property at 18 Monmouth St, Grey Lynn, which is owned by a family trust and has not changed hands since 1997, will be auctioned next Wednesday.

"The property is ideally suited to small or mid-sized owner occupiers offering an industrial service or commercial users looking to create something unique," says Reese Barragar of Barfoot & Thompson Commercial who is marketing it for sale with colleague Murray Tomlinson. "It should also be looked at for potential residential purposes," Barragar says.

The property will be auctioned at Barfoot & Thompson's offices at 34 Shortland St at 10.30am on October 2 unless it sells before the auction.

Barragar says the concrete building with longrun iron roofing occupies a regular-shaped freehold site of about 325sq m with single access via Monmouth St. "It is essentially flat and on-grade with the street level and faces southeast," he says.

The 180sq m building encompasses a front studio area of 98sq m and a rear studio of 82sq m and comes with vacant possession. "It has a mixed-use zoning permitting a wide range of uses including offices, educational facilities, care centres, warehousing, cafes and eateries, residential units and places for retailing, entertainment or assembly of less than 500sq m," Barragar says.

The property is at the Arch Hill end of Grey Lynn about 190m from the corner of Great North Rd, which is well serviced by buses.

Motorway access is good with nearby on and off ramps at Wellington St, Newton Rd and Pitt St.

"Before the Northwestern Motorway was cut through the bottom of Arch Hill gully in the 1960s and 70s, many of the streets running down from Great North Rd linked up with those in Kingsland," Barragar says. "Now the only through road is Bond St and others such as Monmouth St have become quiet cul-de-sacs. Grey Lynn is quickly becoming one of the most sought-after suburbs in Auckland, thanks to a strong community environment shared by its residents and its closeness to the Auckland CBD."