Business meets beauty on Domain’s edge

A statement character villa positioned between Newmarket’s medical precinct and the Auckland Domain is being offered for sale, presenting investors with a passive opportunity that combines income, long-term growth prospects and enduring locational value, Bayleys brokers say.

Bayleys Commercial director James Were is marketing the 240sqm freehold site at 22 Morgan Street for sale by deadline, closing at 4:00 pm on Tuesday, 2 December 2025 (unless sold prior).

Were says the early 1900s villa, comprising approximately 216sqm of floor area, has been comprehensively upgraded to deliver high-quality character accommodation across three levels, supported by secure basement garaging for four stacked vehicles.

Currently leased to international freight forwarding and supply chain solutions firm Scan Global Logistics on a term expiring September 2026, the property returns $108,000 net pa plus GST and outgoings, providing investors with passive income and the potential for further rental uplift or occupation upon lease expiry.

Were says the premises’ strategic location and flexible Business – Mixed Use zoning make it a compelling proposition in today’s market.

“Demand for properties in this corridor consistently exceeds supply, appealing equally to investors, medical specialists, professional service firms, and boutique creative occupiers seeking proximity to Newmarket, Parnell, and the central city. In the case of the subject property, character, accessibility, and amenity converge to provide prime accommodation well-suited for a range of high-end users.”

The ground floor features four private offices with amenities, an open-plan workspace, a central kitchen and a private courtyard.

“Upstairs offices offer a spacious boardroom, additional amenities and storage, with the potential for partial residential occupation subject to appropriate Council consent, which enhances the asset’s multi-use versatility.

“The property has benefitted from a high-end refurbishment, which strikes an ideal balance between a distinctive heritage aesthetic and modern efficiency, rarely seen in boutique buildings.

“For businesses, it’s a statement, and for investors, the property is low-maintenance, income-producing and embedded with growth potential.”

Located within walking distance of the Newmarket train station, Westfield’s flagship retail centre, and the Auckland Hospital and University precinct, Morgan Street benefits from excellent public transport connectivity and access to major arterial routes.

The Business – Mixed Use zoning with a 27-metre height overlay provides long-term development flexibility, allowing for intensified commercial or residential outcomes in one of Auckland’s most desirable fringe suburbs.

Were says the property’s fundamentals closely align with investor priorities in the current environment. “With prime land increasingly scarce, well-located, distinctive assets that deliver on both secure income and future potential are commanding strong attention. Investors continue to seek reliability today and options tomorrow – this investment delivers on both.”

Newmarket’s continued evolution as a high-amenity commercial and retail hub reinforces the long-term outlook. Ongoing public and private investment - from the University of Auckland’s expanding Newmarket campus to the Scentre Group’s Westfield redevelopment and a fast-tracked mixed-use precinct taking shape around the corner from the subject property – is supporting sustained tenant demand and value uplift.

“This is a rare opportunity to secure a passive investment with genuine optionality in one of the region’s premier locations,” Were says. “Poised to benefit from Newmarket’s next phase of growth, the property combines style, versatility, and proven income performance in one exceptionally attractive package.”