A premium city-fringe office asset in the highly strategic Grafton precinct is being presented to the market for sale, with vacant space also available for long-term lease. This dual offering creates a compelling opportunity for owner-occupiers and add-value investors to secure a significant foothold in one of Auckland’s most connected locations.

Bayleys capital markets director Cameron Melhuish is marketing the 2,356sqm (more or less) five-level premises at 93 Grafton Road for sale by deadline, closing at 4:00 pm on Thursday, 17th April 2025, alongside colleagues James Were and Ben Wallace.

Melhuish says the building features three levels of well-lit office accommodation above two floors of secure basement car parking and a capacity for 56 vehicles – which is an increasingly rare commodity in Auckland’s central suburbs.

“Floor plates range from 146sqm to a whole level of 792sqm, offering flexibility for businesses seeking custom-fit premises, while large glazing panels and generous setbacks provide plenty of warm natural light, creating an attractive workplace environment.

“Approximately 37 percent of the premises is currently tenanted, generating an annual rental income of $286,790 plus GST. Income is derived from key tenants and car parking, including medical operator Optical Clinical Trials, which has a lease for approximately 331sqm until 2030, and 146sqm occupied by consultancy firm Primoris New Zealand until 2026 with options for renewal.”

The freehold property has a 57 percent share of a 3,315sqm (more or less) site, zoned Business – Mixed Use, gaining dual frontage to Moehau Street.

Bayleys commercial leasing and sales director, Ben Wallace, says the property has seen some refurbishment, with exposed ceilings, polished concrete flooring, and versatility enhancing its appeal for occupants.

“The University of Auckland has now vacated 997sqm, with an additional 218sqm to become available by the end of 2025, creating opportunities for new tenants or an owner-occupier to secure a long-term presence in the city-fringe’s primary medical and educational precinct,” he says.

“Combined with other available tenancies, this provides more than 1,695sqm of vacant accommodation over three levels, which may pique the interest of investors eager to leverage the high demand for well-located office space by upgrading the vacant areas to secure strong long-term tenants.”

Located at the nexus of Auckland Central’s business, medical and educational precincts, the property benefits from strategic proximity to the State Highway network and major transport links, the Starship Children’s Hospital and the Auckland City Hospital, the University of Auckland’s Grafton campus and Auckland Domain.

Bayleys Auckland metro markets director James Were says this setting provides abundant potential for future use, particularly given neighbouring development activity.

“The next owner has virtually unbridled opportunity to maximise the property’s potential – whether by securing tenants, occupying it themselves, or undertaking add-value improvements to enhance income.

“Rising demand for health and education services is also driving increased development interest in the immediate area, with a long-term trend towards properties transitioning from traditional uses to medical hotels, accommodation facilities, and mixed-use developments that integrate commercial and residential spaces. This evolution is expected to drive capital growth for the subject property.

“The property at 93 Grafton Road is a standout opportunity in a market where investors actively target quality assets with future upside. It represents a rare chance to secure a strategic holding in a high-growth precinct with multiple avenues to enhance and maximise long-term value.”