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Ōtāhuhu town centre site epitomises diversity with upside

The historic town centre site housing a row of shops that epitomise South Auckland’s cultural diversity have gone up for sale ripe with upside for investors, occupiers and developers.

The century-old two-storey property on a high-profile corner on Great South Road is among the most substantial remnants of central Ōtāhuhu’s early commercial streetscape.

The site for sale encompasses six adjoining two-level units across three titles, each with a shop at street level. The six shops house a mix of ethnic eateries, a café, dairy and mobile repair shop.

Upstairs areas are predominantly used for storage, with the potential for a new owner to add value by converting these to residential accommodation.

The fully leased Great South Road property currently generates a diversified total net rental return of $157,462 plus outgoings and GST per annum.

The versatile multi-unit configuration and flexible lease options, with some tenancies leased month-to-month, present possibilities to occupy or further optimise the lease terms, rental income and tenant mix.

The buildings with a combined floor area of some 1,230 square metres are underpinned by more than 930 square metres of freehold land.

Town Centre zoning lends the site considerable future potential to upscale with a more intensive residential or mixed-use redevelopment.

The freehold land and buildings at 275-285A Great South Road, Ōtāhuhu, Auckland, are now being marketed for sale by Tony Chaudhary, Lalit Arya and Beterly Pan of Bayleys Real Estate.

The property will be sold by deadline private treaty closing on Monday 22 April, unless it is sold prior.

“With a heritage dating to the 1920s, this property has been part of the fabric of Ōtāhuhu’s town centre and community for a century,” Chaudhary said.

“With nearly half its population identifying as Pacific peoples, a quarter Asian, and 15 percent Māori, Ōtāhuhu is one of the most ethnically diverse communities in New Zealand.

“The site for sale reflects this cultural richness with Polynesian, Indian and Halal eateries onsite, and there’s considerable potential for a new owner to build on this as the suburb continues to grow and develop,” said Chaudhary.

The site forms part of the Business – Town Centre zone under Auckland’s unitary plan.

Arya said this zoning sought to provide a focus for commercial activities and growth, with opportunities for intensive residential, commercial or mixed-use development.

“With its substantial footprint and main-street profile, the Great South Road property could have attractive potential for a future multi-level apartment project – likely with street-level retail that would continue its legacy and presence in Ōtāhuhu’s commercial heart.

“Whether you’re looking to invest, establish your business, or embark on a development venture, this site invites creative exploration from buyers,” said Arya.

Pan said the opportunities and future value were underpinned by the location’s growing “southern gateway” status within the region.

“Ōtāhuhu is a thriving and fast-developing area nestled in the centre of multiple South Auckland business districts and extremely well-located to the Southern Motorway and other key arterials.

“This suburb is an important part of the city’s southern transport approaches for both road and rail and is served by a combined bus and train station. This places it within easy reach of the CBD and airport, with excellent transport links across the region,” Pan said.

Click here for more information on the listing.

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