Weekend Herald

BP sta­tion the an­chor for prime cen­tral site

- Business · Retail · Industries · Energy · British Petroleum · Oil · North Shore · Barfoot & Thompson · Wairau Valley

A high- pro­file, road- front prop­erty is for sale on a key thor­ough­fare on Auck­land’s North Shore with seven es­tab­lished ten­ants, in­clud­ing a petrol sta­tion.

“The prop­erty is held within one Free­hold ti­tle and houses a stand­alone re­tail build­ing in­clud­ing one res­i­den­tial ten­ancy,” says Chase Erceg of Bar­foot & Thomp­son North Shore Com­mer­cial who, with col­league Si­mon Far­land, is mar­ket­ing 8B Tar­get Rd, To­tara Vale, for sale by ten­der clos­ing at 4pm on Thurs­day, Oc­to­ber 29, un­less sold ear­lier.

On the north­ern side of Tar­get Rd, the site en­com­passes 1920sq mof land with a gen­er­ous 53.12m frontage to the busy ar­te­rial route. “This is a su­perb lo­ca­tion due to Wairau Val­ley, Taka­puna and Al­bany be­ing just minutes away,” says Erceg. “The con­ve­nience is en­hanced by the quick ac­cess to the North and North­west mo­tor­ways plus schools, parks and the Sun­nynook bus sta­tion all within easy walk­ing dis­tance.

“The lo­ca­tion ap­peals greatly due to its strate­gic, cen­tral lo­ca­tion, its di­verse mix of busi­nesses and ameni­ties, and the lack of sup­ply of land to de­velop.” Erceg says.

“The en­tire site is cur­rently fully oc­cu­pied with seven es­tab­lished ten­ants pro­vid­ing a to­tal an­nual re­turn of $ 291,645 plus GST,” Far­land says “The BP ser­vice sta­tion is the an­chor ten­ant hav­ing re­cently re­newed their lease for an­other 10 years, mak­ing this a bank­able in­vest­ment.”

The prop­erty is Zoned Busi­ness — Neigh­bour­hood Cen­tre un­der the Auck­land Uni­tary plan. “This zon­ing pro­vides res­i­dents and passers- by with fre­quent re­tail and com­mer­cial ser­vice needs,” Far­land says. “Any fu­ture de­vel­op­ment is ex­pected to be in keep­ing with the sur­round­ing res­i­den­tial en­vi­ron­ment and typ­i­cally en­ables up to three storeys while per­mit­ting res­i­den­tial use on the up­per floors”.

The build­ing’s to­tal gross floor area is 864sq m.

 ??  ?? The site is cur­rently fully oc­cu­pied with seven es­tab­lished ten­ants pro­vid­ing a to­tal an­nual re­turn of $ 291,645.
The site is cur­rently fully oc­cu­pied with seven es­tab­lished ten­ants pro­vid­ing a to­tal an­nual re­turn of $ 291,645.

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