11 Mount Street, Auckland Central Massive add-value opportunity
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Available PropertyFiles:
- /CT/
- CT - 11 Mount St.pdf
- /LIM/
- LIM-11 Mount St-2022.pdf
- /Property File/
- PF-2022.zip
Property Description
• Whole Building – 104 short-term or student accommodation focussed units being sold in one line• Circa 1,791sqm building with approximately 312sqm site
• Significant value upside – upon completion of remedial works
• Prime location for student accommodation – close to universities
Bayleys Real Estate Ltd and Colliers New Zealand Ltd are pleased to offer 11 Mount Street, Auckland Central (all 104 units in one line) for sale by way of Deadline Private Treaty closing at 4pm on Friday 17th June 2022 (unless sold prior).
The 12 level, circa 1791m² building, known as Scholar Hotel Apartments is made up of 101 residential units and 3 commercial units sitting on 312m² land and will be sold together, collectively.
Located in the heart of the ‘Learning Quarter’, the property is in close proximity to The University of Auckland and Auckland University of Technology (AUT) and is well positioned to capitalise from students’ accommodation needs.
The ground floor of the property incorporates a commercial retail unit with frontage to Mount Street as well as a common kitchen dedicated for use by the accommodation occupants. The basement level includes a laundry, also for the use of building occupants.
Each accommodation floor has a similar design, with five to nine individual units ranging in size from studios to two and three-bedroom hotel-style apartments with bathroom and basic kitchenette facilities.
Originally constructed in 2003, the upper levels of the property are currently part way through construction work to remediate weather-tightness issues. On the lower levels, around 50 accommodation units are operational as serviced apartment accommodation.
Beyond income generated from accommodation units, the retail tenancy is currently generating approximately $47,500 net income.
With an off-shore based owner, this project is no longer their top priority and they’re now motivated to let someone else complete the work and reap the benefit of what is destined to be a spectacular student accommodation or serviced apartment investment.
Contact the sole agents for further information or to arrange a viewing.
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Terms of Supply
The following information has been supplied to Bayleys Real Estate Limited (“Bayleys”) to be made available to any prospective interested parties for general information purposes only.Bayleys and the Vendor do not warrant the accuracy or completeness of the information and recommends that all recipients make their own enquiries to their satisfaction in all respects and seek their own independent expert advice.
Contact Oscar Kuang
Oscar Kuang
Senior Broker, Asian Markets
09 375 7439 021 609 429 oscar.kuang@bayleys.co.nz All Listings
Dedicating into commercial real estate industries for over 10 years, Oscar specializes in sale and leasing of commercial properties with proven sales & leasing track record.
His commitment of making a deal to both parties’ win-win situation through integrity, honesty and innovating thinking has gained him a professional reputation and an extensive client network.
With strong interest into history, social science and language, Oscar graduated with a Bachelor of Arts in the university of Auckland. Combining with his dynamic culture and multi-lingual, his worldview is enriched, and well-shaped by sustainability. He is an excellent communicator with fluency in English, Mandarin and Cantonese with a little in Spanish.
Oscar’s primary area of expertise is in assisting clients to optimize their investment portfolio sustainably through thorough market value analysis, prudent planning, and tailored sales/leasing strategies.
100% commitment, positive and integrity to deliver effective & efficient service is his implanted motto, and he strives to embrace any new challenges ahead.
Contact James Chan
James Chan
Director, Aisan Markets
09 375 8458 021 934 054 james.chan@bayleys.co.nz All Listings
James Chan has been specialising in the sale of commercial property for nearly 30 years and is the first salesperson among Bayleys Real Estate’s nationwide commercial and industrial team to have achieved gross sales of more than $1 billion, placing him within an elite group of high achievers within the industry.
James is head of Bayleys’ Auckland-based international sales division, a team of multilingual salespeople specialising in servicing the property requirements of both offshore and local South East Asian investors.
James has been a top performing salesperson for many years, winning both Bayleys and the Real Estate Institute Salesperson of the Year (REINZ) awards on numerous occasions. Most recently, he was winner of Bayleys’ nationwide top auction agent award for 2011/2012; winner of Bayleys’ national top commercial and industrial salesperson award in 2011/2012 and runner up in 2012/2013; and runner up in REINZ national salesperson of the year award for 2011/2012. Bayleys Top Achievers status every years for the past 30 years.
Born in Hong Kong, James is fluent in Mandarin and Cantonese as well as English and says his “rich cultural base” gives him a point of difference in the marketplace. “I try to bridge the Kiwi and Asian way of thinking, acting as a mediator between the two. I always try and create an outcome that produces a win-win for vendors and buyers.”
In the time he has worked for Bayleys, James has built up a vast network of contacts both within New Zealand and throughout Asia. These not only include investors but also banks and financiers, lawyers, immigration consultants and other professionals. Due to "word of mouth" and as the result of numerous successful transactions over many years, James has built a level of trust and reputation which means clients personally seek out his advice.
