Auckland Central
15 Kent Street, Auckland Central, Auckland
+13
Opportunity overlays legacy
Positioned on a prominent 2,149sqm (approximately) freehold site in central Newmarket, 15 Kent Street offers a rare chance to secure a prime development property. With Business - Metropolitan Centre zoning, this is an opportunity to transform the site into a landmark mixed-use project.
The existing improvements include the original Cashmore Bros. offices, warehousing, and a public car park generating a gross holding income of $269,000 + GST per annum (approximately). Current tenants include a mix of retail, office, and service providers, ensuring flexibility for future use.
Dual access from Kent Street and Teed Street, along with adjacency to the vibrant boutique laneways precinct and Westfield Newmarket, enhances the site's appeal for developers looking to capitalise on the area's ongoing growth. The double grammar zone location adds further value.
The property is for sale by tender, closing 4:00pm, Thursday 13 March 2025 (unless sold prior).
Contact the sole agents for more information.
Cameron Melhuish
Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Ben Clare
Mackys Real Estate Ltd, Bayleys,
Licensed under the REA Act 2008
Graeme Perigo
Mackys Real Estate Ltd, Bayleys,
Licensed under the REA Act 2008
Features
Add value
This under-developed site in the heart of Newmarket offers significant potential for redevelopment, with zoning encouraging mixed-use opportunities.
Zoning
Situated in the Business-Metropolitan Centre zone, the site supports high-density residential, commercial, and retail developments.
Passing income
Established tenants currently generate $152,901 + GST annually, providing holding income.
Character building
The property includes the historic Cashmore Bros. building, featuring Art Deco-inspired design from the 1940s.
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