Shopping blocks for sale
Two neighbourhood shopping blocks with tenancies focused on servicing the household needs of their local clientele have been placed on the market for sale.
The portfolio of properties are all located in South Auckland residential neighbourhoods. The two locations are being sold by Bayleys Real Estate — with just the land and buildings on offer in both instances.
First up is a pair of 97sq m shops in a suburban retail hub at 439 Roscommon Rd in Clendon Park. The freehold units are being sold separately.
The first unit houses the Clendon Foodmarket, on a current six-year lease running through until 2021 generating an annual return of $41,600 plus GST. The second contains the Crown Liquor shop, on a current sixyear lease running through until 2020 generating an annual return of $43,201 plus GST.
The Roscommon Rd units are being marketed for sale at auction at 11am on October 24 through Bayleys. Salespeople Matt Lee, Quinn Ngo and Piyush Kumar said the two shops were part of newly-built retail block which contained a total of five units on the corner of Robert Ross Place.
Ngo said other shops in the threeyear-old block consisted of a bakery, a laundromat and a fried chicken takeaway food purveyor.
● Elsewhere in South Auckland, an entire block of shops at 60-62 Tiraumea Drive, Pakuranga, is being marketed for sale by deadline private treaty (unless sold prior) through Bayleys Manukau, with offers closing on October 22.
The 421sq m block on some 889sq m of land generates annual income returns of $80,221 plus GST and outgoings. It is zoned business neighbourhood centre. The freehold block consists of a dairy, takeaway food outlet and a hairdressers — with accommodation at the rear of the shops.
“The multiple tenancies within the Tiraumea Drive block ensure a splitrisk investment. There is customer car parking for six vehicles directly in front of the shops, and additional staff and residents’ parking at the rear of the shops,” Chaudhary said.
“There is potential subject to consent under the Unitary Plan, for the entire block to be remodelled — with residential dwellings to be developed on two upper storeys while retaining the street-level operations, or reformatting the flat facing on to Tiaka Place.”