239 Ponsonby Road is a Ponsonby landmark, sitting alone as one of the few large commercial buildings anywhere on the eastern side of Ponsonby Road. It now represents a character redevelopment opportunity on a scale very rarely seen in the Auckland market.
Most recently home to Media Works and still supporting the More FM branding, the building’s predominantly office interior is now largely vacant which provides purchasers a chance to transform an iconic Heritage listed asset into something befitting its location and potential.
It sits high on the Ponsonby Road ridge, on a freehold title that runs through to Arthur Street to the rear. This position offers unobstructed views east over Freemans Bay to the CBD, without the threat of being built out due to surrounding residential zoning.
Holding income is provided by two tenants: Lulu Lemon on Ponsonby Road and an office tenant on Arthur Street. The building’s suitability as a redevelopment project is improved by demolition clauses contained in both leases.
The combination of location, character, views, scale, and flexible Town Centre zoning, combine to make this property one for serious consideration by experienced developers and add-value investors.
42 Arthur Street: colliers.co.nz/p-NZL67014606
243 Ponsonby Road: colliers.co.nz/p-NZL67014604
245 Ponsonby Road: colliers.co.nz/p-NZL67014605
239-245 Ponsonby Road, & 42 Arthur Street: colliers.co.nz/p-NZL67014613
Contact the sole agents today for further information and to arrange an inspection of what must be considered an unmissable opportunity.
Features:
- Large commercial redevelopment opportunity
- 948m2 freehold title
- 2,300m2 NLA over multiple levels
- 37 basement car parks
More information: https://www.colliers.co.nz/p-NZL67014603
