Opportunity to own The Engine Room
Founders of neighbourhood bistro The Engine Room are selling their historic North Shore property — but staying on as tenants to continue its legacy. Built in 1929, the former post office building — at 115 Queen St, Northcote Pt — occupies a high-profile corner among local shops, just minutes from the motorway and Auckland’s CBD.
After working for more than a decade in some of Europe and Australia’s top kitchens, restaurateurs Natalia Schamroth and Carl Koppenhagen were attracted by the property’s steelframed windows, high stud ceilings and the open-plan kitchen. In 2006 the couple leased the property, which had a commercial kitchen and liquor licence in place, then set about transforming it into The Engine Room — which opened in 2013.
The casual eatery has since won numerous awards, and consistently features in Metro magazine’s annual list of top Auckland restaurants.
Natalia and Carl plan to sell the property, but will continue to own and operate the bistro business as long-term tenants.
Colliers International brokers Simon Child and Matt Prentice are marketing the freehold land and buildings for sale by deadline private treaty closing at 4pm on November 27, unless sold earlier.
Child sees a superb chance to invest in a highly recognisable property in one of the most affluent communities on the Shore. Northcote Pt is also something of a high-end entertainment hub, thanks to its classy restaurants and every-popular boutique cinema, The Bridgeway.
The Engine Room is signed to a new six-year lease with a 12-month personal guarantee. The lease returns $130,000 plus GST in net annual rent, with market rental reviews every two years. Two rights of renewal of three years each extend the final expiry date to October 2030.
The property has a net lettable area of 290sq m on a 503sq m site with six car parks. Business Neighbourhood Centre zoning allows for future redevelopment of up to 13m in height.
It is only 4km from Auckland’s CBD via the harbour bridge or by ferry from Northcote Point wharf. It is close to State Highway 1, main arterials and an abundance of local amenities.
Child says the vendors have invested significantly in the building over the last six years.
“Natalia and Carl engaged architects Fearon Hay to refurbish and sensitively extend the building with an addition to the back, which flows seamlessly into the existing character building.
“Fearon Hay are renowned for sympathetic work on historic Auckland buildings, and The Engine Room refurbishment is testament to that expertise.”
Schamroth says they are proud of having restored the building to the glory it deserves. “We had a very close working relationship with Fearon Hay to ensure we kept the character of our restaurant and of the building. We were super-impressed with their mindfulness of our interior vision as well as the heritage of the property.”