519-521 Lake Road , Takapuna, North Shore

Front Row Seats To The Future

In the heart of Aucklands North Shore, the land and buildings housing Australasias biggest TV and online marketing company and Work and Income New Zealands offices have been placed on the market for sale.

- 36.5m building control height under PAUP
- Effective net rental of $1,405,781pa + GST (approx.)
- In excess of 50 metres of road frontage.
- 74 car parks

The property at 519-521 Lake Road in Takapunas central business district is an L-shaped 2,587sqm section with a four-storey building containing 4,882sqm of office space. Proposed new Auckland Council building guidelines allow for the creation of an 18-storey apartment tower on the predominantly flat site.

Combined, the dual tenancy schedule for the four-storey block delivers annual net rental revenue of $1,405,781. Sitting directly across from the Shore City shopping mall, the buildings open plan ground floor encompasses 1,589sqm of retail space.

Anchor tenant Brand Developers is on a 12-year lease expiring in 2026 with a further six-year right of renewal, delivering annual rental of $1,015,600. There is an option upon a three-year notice period for the new owner to yield vacant possession for the Brand Developers premises.