Roll up for sushi site in Three Lamps spot
The character freehold building housing a nationally renowned sushi chain has gone up for sale on Auckland’s sought-after Ponsonby Rd.
The single-storey property sits in the Three Lamps shopping precinct, surrounded by some of the city’s most affluent city-fringe suburbs. It is leased to St Pierre’s Sushi K10, underpinned by an eight-year lease and further rights of renewal.
Ponsonby Sushi Ltd, trading as St Pierre’s, has occupied 314 Ponsonby Rd since early 2021 on a lease extending to 2029, with two further six-year rights of renewal. The tenancy generates a net annual rental return of $121,395 plus outgoings and GST.
The freehold land and building are being marketed by James Chan, Quinn Ngo and Karen Yung of Bayleys Auckland Central.
The property will be offered at auction on Wednesday 28 September unless sold earlier.
Chan said the property consisted of an approximately 242sq m building on 307sq m of Town Centrezoned land.
“The premises offer exceptional streetfront exposure with parallel on-street parking right in front, and further parking space at the rear.
“The site is positioned perfectly to benefit from the prosperous commercial and residential catchments of St Marys Bay, Herne Bay and Ponsonby and has outstanding connectivity with central Auckland and the CBD. For good reason, this is a location that rarely presents any vacancy.
“With a well-known national tenant providing a good income underpinned by a long lease, the property will appeal strongly to buyers seeking a quality bottomdrawer commercial property investment,” said Chan.
Ngo said the property’s location in the flexible Business–Town Centre zone provided for diverse commercial and possible residential activities for a new owner.
“Designed to provide a focus for commercial activities and growth, this zone is typically applied to centres on main roads with good public transport,” Ngo said.
Yung said the location’s possibilities and desirability were underlined by the calibre of nearby occupiers and, within walking distance, Ponsonby’s cafe, restaurant and bar scene, art galleries, boutique retail and supermarkets.