Adaptive mixed-use asset zoned for ambition

A prominent mixed-use property on one of Auckland’s busiest arterial corridors is being offered to the market, presenting investors, developers, and owner-occupiers with an adaptable city-fringe opportunity underpinned by income, profile and future potential, Bayleys brokers say.

Bayleys Commercial director James Were, together with colleagues Lonny Tian and Lillian Kong, is marketing the dual title premises at 449-453 Dominion Road for sale by auction, scheduled at 2:00 pm on Tuesday, 3 December 2025 (unless sold prior).

Totalling 609sqm with Business – Mixed Use zoning and a 22m height overlay (subject to Plan Change 120), the site sustains approximately 735sqm of building area configured for seven potential tenancies across street-level retail, first-floor residential, and ancillary storage.

Currently returning a net passing income of circa $83,886 pa from four tenancies, the property features three road-facing shops, two residential units above, and two rear tenancies, including three vacancies that invite owner-occupation or refurbishment/redevelopment.

Were says the flexible layout and underlying zoning combine to make the asset a rarely available foothold in a tightly held and highly visible location.

“Early interest in the property highlights just how investors are recalibrating towards mixed-use holdings with adaptive capacity in well-connected infill locations.

“Dominion Road continues to evolve as one of Auckland’s most active regeneration corridors. We’re seeing a growing appetite for sites that can generate holding income while offering a pathway to higher-value redevelopment. This property delivers that balance – a functioning asset with zoning to support mixed commercial and residential future outcomes.”

The three adjoining retail shops enjoy an 18m frontage to Dominion Road, benefitting from constant exposure to both vehicular and pedestrian traffic. The upper-level apartments are accessed separately from the rear, while ground-floor storage and parking add further utility for future occupiers.

Additionally, Were says the locational fundamentals amplify the property’s long-term appeal. “Mount Eden is a textbook example of policy-directed growth in action. With the new City Rail Link (CRL) reshaping connectivity and new planning frameworks encouraging height and density along transport corridors, this precinct represents the future of urban living in New Zealand.

“Mixed-use zoning encourages residential and smaller-scale commercial activity, acting as a transition between the central city and suburban centres. With the Auckland Council’s policy settings favouring infill intensification, the site is well-placed to benefit from renewed development interest as economic conditions turn a more positive corner.

“We’re entering a phase where development feasibility is improving, and investor confidence has returned. Properties with these credentials – centrally located, zoned for vertical development, and income-producing – give investors options to stage value creation over time.”

Held long-term by an offshore investor now liquidating international assets, Were says the property represents a diversified and versatile opportunity for investors, developers and occupiers seeking scale and visibility in Auckland’s most dynamic and well-serviced city-fringe neighbourhood.