Two adjoining commercial properties in Beach Haven are being marketed for sale by auction by NAI Harcourts’ Isaac Tankard and Andrew Bruce.
Described a few years ago in Metro magazine as ‘one of Auckland’s hottest suburbs’ and being ‘one to watch’, Beach Haven has seen fast growing popularity and rapid increase in values.
Older single-family homes have made way for more intensive new housing and with this revitalisation has come increasing demand for commercial and retail services.
NAI Harcourts North Shore is marketing 102 and 104-112 Beach Haven Road, two commercial freehold titles offered for sale individually.
Held by the current owners for some 15 years, Tankard says he expects a good level of interest, especially given the current commercial market in Auckland with low interest rates and short supply of available listings.
104 -114 Beach Haven Road consists of a single-level retail building offering 290sq m on a large 916sq m site.
Three established retail tenancies – Legendz Barbershop, Domino’s Pizza and St Vincent de Paul Society store – generate a total annual rental of $ 85,673 plus GST and outgoings.
Tankard says the property offers plenty of onsite car customer car parks given the building’s low site coverage of only 30 per cent. This would allow potential for future expansion subject to planning consent.
Neighbouring 102 Beach Haven Road consists of a large 919sq m site improved with an industrial style automotive workshop leased to Pronto Automotive paying $ 36,660 plus GST and outgoings.
The workshop and office is approximately 140 sq m with a canopy area of 55sq m at the rear of the workshop.
Four car parks are located at the front of the workshop with additional parking space at the rear.
Bruce says the vendor has occupied the rear half of the property as a yard for its business. However this is no longer required and the sale provides for vacant possession of this area.
This yard area of 460sq m includes three 20-foot containers and large steel frame canvas awning.
This vacant area provides the new owner with options to lease out and increase the annual rental, develop or possibly occupy.
The properties are zoned Business Local Centre Zone which includes permitted activities (but not limited to) retail and office, dwellings and integrated residential development, light manufacturing and servicing, healthcare and education facilities. The 18m height limit offers attractive future redevelopment potential.
Tankard says both properties are situated within a small stretch of commercial properties which form the Beach Haven Town Centre offering a range of retail, service and office uses forming a local convenience hub for residents.
Bruce says properties like this present a rare opportunity in the current market as they offer a unique combination of split risk income through multiple tenancies with the added attraction of rental growth and future development potential. Definitely an opportunity not to be missed.
The properties are to be offered for sale individually by auction starting 1pm on Thursday 16 December at NAI Harcourts auction room, 128 Hurstmere Road, Takapuna unless sold prior.