A prominent commercial property in the heart of Takapuna is being brought to market, offering add-value investors, occupiers, and future-focused developers an exceptional opportunity in the North Shore’s premier metropolitan centre.

Bayleys North Shore Commercial, Investment and Development sales broker Michael Nees is marketing the 1,523sqm (more or less) freehold site at 29 Northcroft Street for sale by deadline, closing at 4:00 pm on Wednesday, 25th June 2025 (unless sold prior), alongside colleagues Dean Gilbert-Smith and Ranjan Unka.

The property sustains a three-level office building of 1,932sqm (more or less) with a full basement car park, just moments from Takapuna Beach and key civic and retail amenities.

Nees says with its premium positioning, established income, and backing of several trusted brands already in place, the property presents a smart play in one of Auckland’s most popular suburbs.

“This is one of central Takapuna’s most recognisable commercial buildings, providing both immediate cash flow and a compelling pathway for redevelopment.

“With expiring leases aligned to mid-2026, the asset is ideally timed for repositioning, whether through refurbishment of the existing structure, or redevelopment into a high-density residential or mixed-use scheme under the site’s Business – Metropolitan Centre zoning.”

Currently partially leased to six commercial tenants, including dermatology clinic Skin Institute, accountancy firm Michael Poll, and Bayleys Real Estate, the property returns $454,102 net pa and has the potential to reach $607,723 net pa fully leased.

Bayleys North Shore Office, Retail and Investment broker Dean Gilbert-Smith says the building maintains a strong 86 percent of New Building Standard (NBS) seismic rating and includes secure basement parking, enhancing its occupier appeal and reducing compliance risk.

“The site’s triple frontage, protected western outlook, and proximity to major local developments, including the Auburn Street apartment precinct and the new Waiwharaiki Anzac Square civic space, position it favourably for uplift.

“Takapuna is experiencing significant regeneration, with a focus on densification, amenity enhancement, and high-quality design, The site sits at the epicentre of that momentum,” he says.

“Favourable zoning encourages intensive development, including commercial, residential, tourism, and community uses, with one of the highest allowances under the Auckland Unitary Plan. This, coupled with a 16 metre long driveway, basement infrastructure, and existing access points, offers significant cost and time efficiencies for future developers.”

The brokers say Takapuna’s transformation is driven by strong underlying fundamentals, including its desirable coastal location, access to top schools and public transport, and a status as the North Shore’s primary commercial centre.

Bayleys North Shore Commercial director Ranjan Unka says the area features a well-heeled community, and residential values consistently exceed wider-region averages.

“This commercially utilised asset features scope for significant mixed-use and residential upside. It is offered to the market when investors favour mixed-use assets in high-growth urban nodes, particularly given a recent contraction in the forward-looking development pipeline.

“Across our network, we’re seeing an increasing appetite for assets that balance holding income with future intensification potential. The subject property fits that profile, offering secure cash flow, a strategic timeline for redevelopment, and a location set to benefit from ongoing civic investment.

“This is a superb chance to secure scale, zoning and profile in one of Auckland’s less saturated commercial precincts. Whether repositioned, redeveloped or held for future value growth, this asset stands out as a smart acquisition in any market cycle.”