Inner-city vibe adds to sites’ attractions
Two properties have come up for sale in Auckland’s vibrant new inner-city residential, shopping and lifestyle precincts.
For sale on ever-popular Karangahape Rd is a beautifully presented two-level Edwardian style building that offers a secure bluechip investment with the option to occupy.
“K’Rd has become one of Auckland CBD’s most vibrant commercial and residential hubs,” says Murray Tomlinson of Barfoot & Thompson Commercial.
With Reese Barragar, he is marketing 312 Karangahape Rd for sale by auction commencing 10am on June 30 at 34 Shortland St unless sold earlier.
Tomlinson says the site on the corner of East St and Karangahape Rd has a total area of 377 sq m, with 12m frontage to Karangahape Rd and 31m to East St.
“The 620sq m building was built in 1926 for the Australia and New Zealand Bank and while the design looks to have an Edwardian style, the property exhibits the practicality and restraint which occurred in the inter-war years.
“For a building of this age, the maintenance and presentation are extremely good with the entire roof and gutters having been replaced about five years ago.”
Barragar says recent refurbishment to the upper floor provides an opportunity for office use or the possibility for residential usage.
“The building has an extraordinary level of finishes featuring exposed beams, high ceilings and polished concrete floors,” he says.
“The two premium ground-floor retail tenancies are fully leased with long-term tenancies in place, while the two upstairs self-contained character offices are being offered with vacant possession. With the offices fully leased at market rates, the building generates a diversified income stream of $211,570 net per annum plus GST.”
He is also marketing a highprofile investment in the fastgrowing Victoria Quarter — Unit G2,
80 Beaumont St, with a deadline of
2pm, June 23, unless sold prior. “This is a secure passive investment in a strong and emerging CBD location,” Barragar says.
“Recent years have seen this location grow in popularity for many businesses and residents.
“The vibrancy and contemporary character, coupled with the wide range of high-quality amenities and services, make this location a desirable environment for young professionals and empty-nester occupiers.”
The 58sq m unit is located on the ground floor of a near-new complex which is further supported by a secure rental bond and anchored by the Quest Apartments.
Tenanted by long-standing Craft Caf, the passive asset returns $34,880 net per annum plus GST.
The stratum in freehold property is favourably zoned Business — Mixed Use.