Uptown creative offices attract new owners

The striking converted Auckland city-fringe warehouse housing a top New Zealand creative group has been put up for sale.

The extensively refurbished building on Burleigh Street, Grafton, harbours smart contemporary offices with a distinctive industrial aesthetic and an interior imagined by an internationally renowned film production designer.

It sits at a strategic location in Auckland’s lively Uptown precinct, near City Rail Link (CRL) stations, the city centre, and key amenities.

The standalone premises are fully occupied by creative marketing collective UFO Rodeo on a new six-year lease, with a further six-year right of renewal. This will deliver new owners a net rental of $221,358 plus all outgoings and GST per annum, with fixed 3 percent annual increases and a market review on renewal.

UFO Rodeo is made up of five creative studios that enliven clients’ brands through strategy, storytelling, experiences, and execution. It has worked with some of New Zealand’s biggest brands, plus global giants such as Adidas, Aon, and Stella Artois.

The freehold property at 18 Burleigh Street is being offered to buyers by way of a tender closing on Tuesday 12 May (unless sold prior).

The sale is being marketed by Phil Haydock and James Were of Bayleys Auckland Central.

Haydock said a recent comprehensive renovation had given the former industrial site new life as a top-quality character office workspace.

“From humble beginnings as a hardworking warehouse, this standalone building has had a top-to-tail makeover. Its interior was designed by Academy Award-nominated art director Ra Vincent. This gave rise to a truly impressive commercial space with its own unique industrial chic, and tailor-made premises for its new long-term creative tenant.

“Through the striking, black-framed glass double-door entry, there’s an expansive open-plan area that runs down the northern length. Taking advantage of the high stud, a mezzanine level has been added along the opposite length, taking the total floor area to some 533 square metres,” Haydock said.

The building has an A-plus grade seismic rating of 118 percent of new building standard. It sits on some 549 square metres of land with on-site parking for six vehicles, plus abundant overflow parking available across the road.

“Positioned on a freehold landholding with coveted Business – Mixed Use zoning and a greater-than-usual 21-metre building height allowance – plus Auckland Grammar School zoning – it offers new owners attractive future development prospects.

“Together, this adds up to a compelling investment proposition that delivers new owners reliable and growing cashflow, and long-term upside, in one of Auckland’s best connected and most desirable city-fringe locations,” said Haydock.

The property enjoys a high-profile position on Burleigh Street, close to the intersection with busy Mt Eden Road, amid a dynamic mix of offices, shops, industrial properties, and apartment buildings.

Were said the new Mt Eden CRL station, taking shape a short walk away, was a catalyst for capital growth in the area.

“The existing station has been substantially redeveloped as part of the CRL. When the project is completed, the surrounding land will provide the potential for more than 100,000 square metres of residential and commercial development.

“This will make way for potentially over 1,100 new homes with associated retail, hospitality and commercial ground-floor activation, taking this precinct to another level as a focus of activity and demand,” Were said.

In addition to excellent public transport services, the Burleigh Street site enjoys handy motorway access via the Khyber Pass Road and Newton Road interchanges.

“The popular Mt Eden retail precinct is nearby, as is the buzzing Uptown precinct along the Symonds Street ridge. This continues to evolve as a key fringe hub, underpinned by proximity to the CBD, Auckland Hospital, and universities,” Were said.