Stable tenants at Wairau Valley property
A1980 t wo- level office- warehouse building is on the market for sale for the first time in 20 years.
Barfoot and Thompson Commercial and Industrial sales agents Elaine Tutty and Josh Warren are selling the property, at Unit 1, 93 Ellice Rd, through a tender process, closing November 9.
The road frontage building is in the sought- after Wairau Valley, has two long- term tenants and is close to a busy thoroughfare. Warren says the split- risk investment has 20 carparks and excellent street access.
“The rapid population growth on Auckland’s North Shore, the proximity to the city and strong competition for commercial space in the Wairau Valley make this a superb opportunity,” he says.
“With a combined office- warehouse area totalling about 1181sq m this is a commercial holding with lots of flexibility. There are four possible tenancies in the building, currently leased to two solid tenants.”
A May 2016 registered rental valua- tion puts the market rental at $ 170,326 net pa. The current rental received is $ 157,400 pa net.
Warren says the building has a stratum freehold title with a rateable value of $ 1,575,000.
It is at the eastern end of Ellice Rd, near the Target Rd intersection and Auckland’s Northern Motorway.
The t wo tenants are well established companies S C Leach Ltd and Excellence Billiards NZL. S C Leach Ltd Ground floor tenant S C Leach Ltd was established in Auckland by Sydney Charles Leach in 1918, providing engineering services to the printing industry.
It was bought by Brian and Susan Kidston in 2008 and now supplies consumables and machinery to the print, print finishing and packaging industries.
Having joined forces with Birk & Blyme in Australia, its range now tops 20,000 leading brands of machinery and after- market replacement parts. The business deals in pressroom and bindery supplies, Excellence Billiards Excellence Billiards was founded in 2005, by multiple National Pool Champion Matt Edwards. In 2010, women's professional pool player and German National 8- Ball Champion, Molrudee Kasemchaiyanan joined.
Along with pool/ billiard supplies the company has expanded into other game room products, including table tennis, foosball, darts, air hockey, shuffle board, poker, furniture, home theatre seating, pub tables and bars.