A vacant bite-sized Parnell commercial property with existing resource consent for a contemporary revamp and strong underlying zoning fundamentals is for sale, giving owner-occupiers, investors and developers options in one of Auckland’s preferred city fringe locations.

The standalone two-level property at 19 Falcon Street, backing on to 24 Cheshire Street, is one block back from main retail strip Parnell Road and opposite the Parnell train station, which has a pedestrian underpass through to the Auckland Domain.

The 1970s-built 364sqm building on a freehold 309sqm site has onsite car parking and is configured as two tenancies – ground floor and upper level – each with their own street address. Now unoccupied, the interior has been gutted to provide a blank canvas for a new owner to work with.

The site has favourable Business- Mixed Use zoning which allows for moderate to high intensity residential and commercial development with a 27-metre height allowance subject to required consents, and falls within the coveted double grammar school zone.

The property is being sold via a deadline private treaty campaign closing 4th June, unless sold prior, through James Were and Phil Haydock from the Bayleys Auckland Metro team.

Calling it an underdeveloped mixed-use site with scope for repositioning, Were says an owner-occupier or investor could run with the existing architectural refurbishment plan by design firm Jasmax which has resource consent, or come up with a new concept for the strategicallypositioned property.

“The Jasmax option provides for a classy refurb’ with stylish facades to both Falcon and Cheshire Streets, and provides office or showroom space with an edge.

“The design would optimise views from the upper level out across the Auckland Domain and would bring the property up to date for businesses seeking quality premises.

“Building consent has been lodged and is pending, meaning a new owner could hit the ground running to get the project underway.”

Were says if a buyer wanted to hit pause on a full refurb’, the building still has appeal as-is.

“It’s essentially presented as a shell, with two floors of 182sqm each, leaving room for interpretation. Downstairs has a loading dock, double height stud and is quite voluminous, while the upstairs tenancy has vaulted ceilings and is clearspan making it a super-cool space for office use.

“The property could also be ideal for an online retailer looking for a central base with good inventory capacity, and a handy location for distribution purposes.”

Standalone freehold properties with this level of potential, location, and affordability are increasingly hard to come by says Haydock, stressing the longer-term redevelopment options and inherent ongoing capital appreciation.

“As Auckland’s oldest suburb, Parnell has managed to straddle the best of the past while pushing ahead to the future,” he says.

“It’s a lively location with high amenity and has seen significant residential and commercial development in recent years with larger commercial property owners such as the Friedlander and Manson families progressing innovative projects.

“The busy suburban village has good hospitality and retail options, and has weathered various economic cycles well. Opportunities for new development are becoming few and far between in Parnell, and given this site would support a wide range of future uses, including residential conversion, we’d expect plenty of enquiry from long-term thinkers.”