JLL are delighted to market for sale the Parklane Motel and development site located in Epsom, Auckland, New Zealand.
Located along a heavily trafficked and sought-after central location, 222 Green Lane West, Epsom is a 2,763sqm freehold title, advantageously zoned for Terrace Housing and Apartment Buildings, and in the prestigious Double Grammar zone, with an established 38-room motel to be sold as freehold going concern. The site has been operated as a motel since being built in the late 1980s. This is an unparalleled development opportunity in a key Auckland suburb.
JLL brokers Kevin Reardon, Harry Fergusson, and Nick Thompson have been exclusively appointed to market the property by Deadline Private Treaty, closing 17th August 2023 unless sold prior.
On top of the prime land sits the 38-room Parklane Motel, which is currently operating with a net annual income of more than $435,000. The motel offers a mixture of studio, twin, executive, and penthouse rooms. On-site facilities include a swimming pool, children’s pool, parking, and conference room.
“Opportunities of this calibre rarely come to market, let alone within a tightly held and thriving suburb such as Epsom,” says Reardon. “There are ample amenities nearby and superb public transport access.”
Beyond the existing motel business, Fergusson notes the location provides rich pickings for savvy investors.
“The sprawling property is well-serviced by public transport and has easy access to both motorway networks, with SH16 being only a 5-minute drive away,” says Fergusson. “The Manukau Road/Green Lane intersection is just at the end of the road which provides direct access south towards the airport and north towards Newmarket and the Auckland CBD.”
The abundance of attractions in the immediate area is part of what makes this central location so popular for businesses, homeowners, and visitors alike, according to Thompson.
“The location is surrounded by a wide variety of landmark developments and facilities including Alexandra Park directly opposite, ASB Showgrounds, and the Auckland Trotters Club, some of which is destined to be further developed into apartments and other commercial uses,” says Thompson. “The rectangular site has approximately 26m of road frontage, exposing you to the approximate 21,000 cars that use the road each week.”
This is an opportunity that astute investors should not ignore. An established business in a thriving part of central Auckland, close to the motorway and other key amenities, adds to the underlying potential of the significant land.