Wealth of options for former Parnell bank

A vacant former bank is up for sale rich with retail, hospitality and office possibilities, and potential as a character residential pad, in one of Auckland’s best loved village centres.

The versatile three-level building on Parnell Road served for years as a branch for the National Bank, then ANZ. It sits prominently amid a lively cluster of boutiques, galleries, cafes and eateries in the heart of Parnell village.

The site offers prime retail or hospitality space on the ground floor, plus a self-contained full-floor commercial space upstairs ready for a new office occupier, or potential residential conversion. Versatility and convenience are further heightened by dual street access and eight basement car parks.

The property at 135 Parnell Road will go under the hammer at an auction on Wednesday 15 April, unless it is sold prior. The sale is being marketed by Cameron Melhuish and James Were of Bayleys Auckland Central.

The building offers a net lettable area of some 414 square metres and frontages to Parnell Road and Falcon Street. It is underpinned by an approximately 305-square-metre freehold site.

Melhuish said versatile configuration and flexible zoning lent themselves to numerous possibilities to add value, occupy or invest for the future.

“Built in the 1970s, with subsequent renovations, this property was for years a focus of the community as a bank branch. Now offered with vacant possession, it presents a unique chance for a new owner to write its next chapter,” Melhuish said.

The approximately 208-square-metre ground-floor tenancy has exceptional exposure to busy foot traffic and around 13,000 passing vehicles per day on Parnell Road. This space is predominantly open-plan, with a kitchen and amenities toward the rear.

The commercial space upstairs spans some 206 square metres. This is also largely open-plan and has its own separate access from Parnell Road. Skylights installed in a 2018 renovation supply abundant natural light throughout the tenancy. Fully self-contained, this floor lends itself to a range of uses, including the potential to repurpose it into a unique character dwelling.

The basement provides car parking and storage, plus internal access to both the ground and first floors.

“Buyers have a rare breadth of potential uses and tenancy configurations to explore,” said Melhuish.

“They could occupy upstairs and downstairs, install tenants on both floors, or occupy one floor and generate an income from the other. There’s also a unique opportunity to create your own customised upstairs residence in the thick of this vibrant hub, on the favoured western side of the road,” Melhuish said.

Business – Town Centre zoning under Auckland’s unitary plan permits wide-ranging commercial, retail, office, community and residential uses. This zone encourages intensive development including multi-level buildings with active street frontages.

Were said a key selling point was the enviable position amid the character and convenience of Parnell.

“Parnell was Auckland’s first suburb. Today, heritage villas sit alongside contemporary offices and repurposed warehouses, creating a distinctive blend of history, creativity and commercial vitality that underpin the suburb’s lasting appeal to both residents and visitors.

“Renowned for its village atmosphere and strong business community, Parnell is home to an enviable blend of boutique retail, professional services, galleries and design-led enterprises, supported by an affluent residential catchment.

“Together, this adds up to one of Auckland’s most desirable city-fringe locations for living and doing business,” said Were.

The suburb’s long-term growth and prosperity are supported by the 30-year Parnell Plan. Reflecting the vision of Auckland Council, the local board, and community, this is a blueprint for projects and partnerships to strengthen the suburb’s identity, improve access and public spaces, and protect and enhance the natural environment and heritage.

Were said connectivity with the rest of the city was another key advantage of the site for sale.

“The city centre and Newmarket are minutes away. Handy access to State Highway 1 via the Parnell and Grafton interchanges provides efficient north and southbound motorway links.

“Five minutes’ walk away, Parnell train station is a gateway linking residents, workers and visitors directly to the wider rail network. This convenience will ramp up to another level with the opening of the City Rail Link,” Were said.