Landmark could give way to future moves
Perfectly positioned on the Royal Oak roundabout, 707-717 Manukau Rd is a genuine landmark. For the first time in its 95-year history, the freehold property is offered to the market, with its owners tracing their lineage back to the original family name on the 1929 Certificate of Title.
Barfoot & Thompson Commercial sales brokers Murray Tomlinson and Sue de Jong are marketing Royal Oak Chambers for sale by tender, closing at 2pm, Wednesday March 6, unless sold prior.
“For investors and developers seeking a strategic hold with both short and longterm prospects, this is a highly attractive proposition,” Tomlinson says.
“The land area of 1239sq m is particularly generous for a suburban retail setting, and the Business—Town Centre zoning means future development could be on the cards.
“As it sits now, the building includes seven fully-leased shops and four signage tenancies, ensuring a steady income stream of around $300,000 plus GST a year,” he says.
Tomlinson says the structure looks to be double brick, plastered on the interior and rear exterior of the building, with exposed brick as a feature on the frontages.
The roof appears to be corrugated iron and the upper level and original windows steel-framed.
Each tenancy has an upper floor in addition to the retail level, and there’s a large backyard area for parking.
Tomlinson says the area is earmarked for growth and intensification with flexible zoning that covers a wide range of activities and a height provision that allows for buildings typically between four and eight stories — including office and residential activities at upper floors.
“Add to this the fact that the property is located right next to the Royal Oak shopping mall and benefits from high visibility and accessibility,” he says.
“Surrounded by popular suburbs like Mt Albert, Onehunga and Greenlane, there’s direct access to the CBD via Manukau Rd, and easy motorway connections via SH20 and SH1, making it a focal point for commercial activity in the area.”