A versatile four-level commercial building in one of Auckland’s most connected city-fringe precincts is being offered for sale, presenting investors and occupiers with an opportunity to collect secure income today, while planning for occupation, refurbishment or redevelopment in the future, Bayleys brokers say.

Bayleys Auckland Metro team Phil Haydock, Alan Haydock, and Damien Bullick are marketing the freehold property at 60-62 Grafton Road for sale by tender, closing at 4:00 pm on Tuesday, 28th October 2025 (unless sold prior).

The modern 983sqm (more or less) building, supported by 33 car parks, occupies a 1,389sqm freehold site with Business - Mixed Use zoning and a 27 metre height overlay.

Phil Haydock says the property is currently fully leased, providing a net annual return of $348,568 plus GST, although there is considerable rental upside potential, and with staggered lease expiries, there are clear pathways for both occupiers and developers.

Tenants span professional services and corporates, including national telecommunications equipment supplier Vicom and award-winning group home builder Landmark Homes, offering income security underpinned by a diversified lease profile.

“From December 2025, the top floor will become available, unlocking immediate occupation potential or the chance to increase the rental profile by installing a new tenant.

“The subject property is particularly attractive given the scarcity of central Auckland sites offering both short-term income certainty and longer-term strategic potential.

“Investors are increasingly seeking assets that provide income resilience today while giving them options tomorrow. This property delivers both - cashflow underwritten by established occupiers, and the ability to unlock additional value through partial occupation, refurbishment, or a future redevelopment in a premium central location.”

The property sits within Auckland’s Grammar School Zone and on the edge of the city’s leading medical precinct, neighbouring Auckland Hospital and close to the University of Auckland.

Proximity to the CBD, Newmarket, Parnell, and motorway interchanges enhances connectivity and makes the location highly appealing to medical specialists, education providers and professional service firms.

Bayleys Auckland Metro’s Alan Haydock says the area’s growth trajectory adds weight to the investment case.

“Grafton is a strategic link between the CBD and Newmarket - the region’s most populous precincts - with ongoing infrastructure upgrades and policy settings favouring mixed-use intensification.

“Sites with mixed-use zoning classification and generous height overlays in this corridor are perennially in demand, with long-term occupier appetite only projected to grow.

“Current market dynamics are driving investors to prioritise assets that combine occupier appeal, zoning adaptability, and strategic positioning. Centrally located landholdings with secure income remain particularly desirable, as escalating construction costs and the scarcity of prime sites intensify competition.

“The property represents a rare chance to acquire a centrally located commercial building with genuine optionality. Investors can benefit from an established cash flow today, while positioning themselves to capture Auckland’s growing demand for well-located medical, educational and professional facilities tomorrow.”