Investors ready to dine out at famed eatery
The former Post Office which houses one of Auckland’s top restaurants is for sale. The Engine Room, consistently rated among the city’s best eateries, has occupied the character building in Northcote Point since 2006.
Following a multitude of awards, the restaurant has shown its commitment to the high-profile corner site with a new eight-year lease, returning an annual net rental income of $129,092 plus outgoings and GST. The lease agreement includes three further fouryear rights of renewal and three-yearly market rent reviews.
The freehold property at 115 Queen St, Northcote Point is offered for sale by Alan Haydock, Damien Bullick and Michael Nees of Bayleys Real Estate. It will go under the hammer on Wednesday 7 December, unless sold prior.
Haydock said the approximately 250sq m building sat on 503sq m of land. “Originally constructed in 1929 as a post office, the building was in more recent times fully refurbished and extended by Fearon Hay Architects. Its stunning fit-out now provides an elegant restaurant worthy of the tenant’s award-winning cuisine.
“The 200sq m main restaurant area, plus a smaller office, lower-ground delivery area and outside store are fully leased to the restaurant,” Haydock said.
On-site parking for six vehicles is available at the rear of the buildings.
Bullick said the fee-simple land underpinning the property was zoned Business–Neighbourhood Centre, providing flexibility and potential for development. “Located directly opposite the site for sale is the Bridgeway Cinema, as well as the popular Clarence Rd Eatery. Also nearby is the Stafford Rd retail and restaurant strip.”
Nees said the restaurant, on the corner of Queen and Bartley streets, was well located to service locals and clients from around Auckland and beyond.