Wave of interest expected as property leased to surf shops goes up for sale
The land and building housing a Kiwimade surfboard shop and neighbouring stand up paddle board outlet - in one of Auckland’s foremost ‘big boys toys’ retail precincts - have been placed on the market for sale.
The property at Barrys Point Road in Takapuna on Auckland’s North Shore houses the retail outlets of custom surfboard maker Primal which has been producing hand-crafted boards for nearly 30-years, alongside stand up paddle board and foil sailboard outlet Pacific Paddle Co.
The 488-square metre two-storey building sits on some 751-square metres of freehold land zoned Mixed Use under the Auckland Council Plan. Barrys Point Road has long been a hub for recreation and lifestyle-focussed retailing premises – including multiple high-end bicycle outlets, surfboard and marine pursuits stores, and multiple motorcycle marque showrooms.
The freehold property at 54 Barrys Point Road is now being marketed for sale by tender through Barfoot & Thompson North Shore, with tenders closing on February 18. Salespeople Nick Brown and Max Andrews said the location would appeal to either investors, or developers with a longterm vision for the locale, and had been owned by the same owner for the last 30-years.
“Barrys Point Road has always been one of the North Shore’s prime light industrial and lifestyle-products retail hubs – trading decades before the Wairau Valley or Albany Basin were created. Barrys Point Road’s reputation is enhanced by its convenience to State Highway 1 at the end of the road, as well as its immediate proximity to Takapuna’s central business district,” said Mr Brown.
Max Andrews added: “North Shore’s populace is renown for its deep relationship to the surrounding harbour and seaside environments – from pleasure craft and sailing through to surfing or fishing – and many retail occupiers in Barrys Point Road have based their presence on serving that market… as evidenced by the operations of long-standing and successfully trading tenants Primal Surf and Pacific Paddle Co.
“Furthermore, the natural geographical constraints of Barrys Point Road – with the upper estuary reaches of the Waitemata on the eastern side, and council and school recreational playing fields and green spaces on the western side of Fred Thomas Drive – mean that expansion of the strip is effectively ring-fenced.”
Underpinning the retail components of the premises for sale, the property has a 21-metre street frontage onto Barrys Point Road. Telecommunications provider Spark also leases space at the rear of the premises for one its receiver/repeater towers. Combined, the three tenancies at 54 Barrys Point Road generate annual rental income of $107,271 plus GST.
Primal is on a lease currently running through until later this year, while Pacific Paddle Co is on a lease running through until 2024, with two further three-year rights of renewal, and Spark is on lease running through to 2024 with one further six-year right of renewal.
The building is constructed of concrete block and timber walls on concrete foundations. The site has customer parking for 10 vehicles either immediately in front of the two shops or at the rear of the premises which overlooks a natural tidal mangrove wetland. The building’s site coverage equates to approximately 33 percent.
The long-term value of real estate in Barrys Point road was secured four years ago during the creation and introduction of the Proposed Auckland Unitary Plan.