Opportunity in high value suburb
Two industrial properties and a city fringe commercial site are among the highlights in Barfoot and Thompson’s first commercial property portfolio offering of 2021.
In Herne Bay, a well-maintained two level property, comprising residential space on the upper level and commercial space below is occupied by a mix of tenants.
“This is premium real estate with stunning views to the harbour and Waitakere Ranges,” says agent Cam Paterson who, with Reese Barragar, is marketing 214-218 Jervois Road for sale by deadline private treaty closing on February 17.
Paterson says the building is leased to five tenancies and returns an annual rent of $291,800 plus GST and outgoings. “The three retail tenancies on the ground floor have access to Jervois Road and the car park at the rear of the site,” he says “While the upper level is divided into two residential dwellings; a large fivebedroom apartment and a smaller apartment with two bedrooms.
“There is a car parking area at the rear of the site that is accessed via Wanganui Avenue and provides a large space for up to 10 stacked parks.”
The standalone freehold site of 524sqm, with 15m frontage to Jervois Road, is zoned Business - Local Centre and has a height limit of 13 metres. “There are many opportunities to add-value while collecting secure passive income,” says Barragar. “Resource consent has been obtained for a 14 -nit harbour view development with basement parking.”
Situated on the south-western fringe of Auckland's Central Business District, the immediate area is supported by the surrounding affluent residential catchments and provides a mix of commercial offices, industrial units and retail. “The property benefits from quick access to the northern motorway with access to the western and southern motorways approximately five kilometres away,” Barragar says. “The nearby Link bus service provides the easiest way to get around Auckland’s inner city and to the Britomart Transport Centre.”
“There are many options for this property,” Paterson adds. “This is a fantastic investment and will not disappoint.”
Also on the market for sale is a standalone corner property benefiting from excellent road exposure, offstreet parking and residential living in Onehunga.
“This freehold site comprises a three level office and includes a three bedroom residential apartment,” says agent James Marshall who, with Nick Wilson, is marketing 245 Church Street for sale by deadline private treaty, also closing February 17.
“The configuration of the property provides for multiple uses, aided by plenty of car parking,” says Marshall.
The 423sq m site houses a building with a total gross floor area of 493sq m. “The ground floor is leased to International Brothers Limited returning $26,000 annually. The first floor is vacant and the second level is rented at $525 per week on a periodic tenancy,” Marshall says. “Construction is predominantly precast concrete walls and floors, light weight timber framing and iron roof.”
He says the zoning is Business Light Industry, which permits industrial activities that don’t generate objectionable odour, dust or noise. “This includes manufacturing, production, logistics, storage, transport and distribution activities.”
Wilson says the industrial property is strategically located about 2.5km from both State Highway 1 Southern Motorway and State Highway 20 Southwestern Motorway on and off ramps which provide easy access to Auckland’s CBD and Auckland International Airport. “The town centre of Onehunga is only 1km to the west; and the property also has quick access to Great South Rd and is just 200m from the Te Papapa train station.”
“This location has been positively impacted by the significant infrastructure projects,” Marshall adds. “Specifically, the Waterveiw tunnel motorway access which has dramatically improved access to this location from Auckland's western suburbs.”
Another featured property for sale in the portfolio is located in the North Shore suburb of Albany and zoned Light Industry.
“This is a superbly located property with a prominent road front position onto a main arterial route,” says Chase Erceg, of Barfoot and Thompson’s North Shore Commercial, who with colleague, David Goodhue, is marketing Unit A, 3 Tait Place for sale by way of auction on February 18.
“The stratum in freehold unit is approximately 506sqm, comprising
337sqm of high stud warehouse/ showroom, a ground floor showroom and office of 60sqm and 29sqm respectively, first floor 54sqm office, amenities and lunchroom totalling
26sqm and 12 car parks,” Erceg says. Occupied by a solid tenant with over 20 years in trading, North Shore Furnishings Group Limited, it has an annual return of $92,500 plus GST and outgoings with a final expiry of 30 September 2029.
Construction is of concrete foundations, concrete and pre-cast concrete walls, aluminium, joinery and long-run steel roofing.
Goodhue says that the scale and physical characteristics of the site are excellent. “The unit is sure to suit a wide range of businesses,” he says.