Two standalone office buildings central Takapuna


18 and 20 Northcroft Street, Takapuna

Private Treaty

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Two standalone office buildings central Takapuna | 18 and 20 Northcroft Street, Takapuna | 1504982 |      X Close
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Two standalone office buildings central Takapuna


•Full notional rental of $507,913.37pa + GST across both properties ($348,977.48pa and $158,935.89pa + GST respectively)

•Two adjacent 1,004sqm and 1,014sqm sites zoned Metropolitan Centre opposite the brand new Toka Puia public carpark (420 carparks)

•Current tenancy schedule presents a range of options for investors, owner occupiers or developers

Bayleys as Sole Agents are pleased to present to the market 18 and 20 Northcroft Street, Takapuna to be sold individually or together.

The properties comprising two well maintained and presented office buildings in central Takapuna represent a rare opportunity to acquire an asset of this nature in such a tightly held locality. The asset has served the current owner well over two decades of ownership with a range of tenancy sizes across both retail and office providing a diversified income stream which currently has 88% occupancy. The existing tenancy profile lends itself to multiple investment options from passive to a more aggressive rental uplift play, there are also occupational opportunities to be considered for a local business looking to own in such a hard location to buy.

In the mid to long term the position of these properties will lend themselves to redevelopment, taking advantage of the Metropolitan Centre zoning with an unlimited height overlay which is exclusive to only four blocks in Takapuna with both sites having the benefit of an efficient developable canvas. Takapuna is booming with its beach and lake side location unique to the density of zoning on offer which has seen several recent high-profile development launched across both the commercial and residential markets in the last 12 months.

With a significant portion of central Takapuna sites accounted for by developers or long term holds for generational landlords options of this nature scarcely make the open market.

18 and 20 Northcroft Street, Takapuna

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