Portfolio signals opportunity in Morningside

Three contiguous freehold properties in Morningside are on the market, giving investors, developers, and owner‑occupiers the option to secure all or part of a sizeable landholding with dual road frontages and strong future potential.

The properties sit between New North Road and Western Springs Road, just metres from Morningside Train Station and within walking distance of Kingsland Village. Comprising 597 and 599 New North Road and 4 Western Springs Road, the three‑property portfolio spans 3,450sqm of freehold land, with each site having existing buildings, and offered either as standalone assets or as a scalable combined holding.

597 New North Road is a fully upgraded 1,200sqm warehouse and hospitality building on a 1,378sqm freehold site with two road frontages and is occupied by Urbanaut Brewing Company. The property operates as a fully-integrated brewery, restaurant and distribution hub, with Urbanaut secured on an eight‑year lease commencing in 2021 and renewal rights extending through to 2041. The property currently returns net annual income of $245,000 plus GST.

599 New North Road is a 461sqm office and workroom building offered with vacant possession. The property includes eight on‑grade car parks and sits on a 760sqm freehold site, providing scope for repositioning or redevelopment.

4 Western Springs Road comprises a 1,025sqm two‑level office and warehouse building on 1,312sqm of freehold land. The ground floor will be offered with a short‑term leaseback to an established printing company, while the upper level is vacant following the departure of a long‑term tenant. Both levels lend themselves to refurbishment or conversion to character office or showroom space.

The three properties are zoned Business – Local Centre which supports a wide range of future uses including residential, commercial and retail. The broader area has undergone significant transformation, evolving into a mixed commercial neighbourhood that attracts creative industries, technology firms, professional services, hospitality operators and light industrial businesses.

The portfolio assets are for sale by Tender closing Thursday 10th September, through Damien Bullick and Alan Haydock of Bayleys Auckland Metro Markets team.

The ability to acquire one, two or all three properties gives buyers flexibility and scale in a location that has seen sustained growth, says Bullick.

“Commercial assets in Morningside typically come to market as standalone offerings. This portfolio gives buyers the ability to secure three adjoining sites with dual road frontages, and it gives a new owner the scale to shape a meaningful footprint in a precinct that has been steadily strengthening.

“There’s also inherent flexibility in the mix of established income, vacant space and development potential, which broadens the appeal to a wide range of buyers.”

Morningside is maturing into a viable city-fringe commercial destination, underscored by its connectivity, character and expanding amenity, with the subject portfolio having benefits for both investors and owner-occupiers, says Haydock.

“There is strong appeal here for buyers wanting to secure land with future upside while also having the option to occupy part of the holding.

“The zoning allows for a broad range of uses, and the scale of the combined sites opens the door to more substantial redevelopment outcomes for forward- thinking entities wishing to secure a sizeable chunk of commercial real estate.

“Being able to control a landholding that runs between New North Road and Western Springs Road is a strategic opportunity, giving a new owner presence, flexibility and long‑term options in one of Auckland’s most connected city‑fringe locations.”