The land and building housing a contemporary-styled bar and restaurant in a part of Auckland where few other licensed liquor premises operate, has been placed on the market for sale.
The property at 366 Rangatira Road in Beach Haven on Auckland’s North Shore, houses the General Public bar and eatery which began trading in June this year.
The single-storey building is considered by the vendor to be the highest profile position within the local Beach Haven commercial shops and borders the Auckland Council-maintained Opaketai Beach Haven Garden community green.
The premises is zoned Local Centre Use under the Auckland Unitary Plan – allowing for the construction of structures up to 18 metres high, potentially capable of sustaining a building up to four storeys, permitting residential use on the upper floors.
The 202 square metres of freehold Rangatira Road land and 224.8 square metre concrete building are being jointly marketed for sale by Terry Kim and Steven Liu of Bayleys North Shore and Leah La Hood of Blu Realty, through a deadline private treaty process closing at 4pm on July 24 unless sold prior. The property features in Bayleys’ upcoming Total Property portfolio magazine.
The sales trio said the property had an initial evaluation procedure (IEP) rating of 100 percent of new build standards -which corresponds with a Grade A+ building. The property features in Bayleys’ upcoming Total Property portfolio magazine.
General Public is on a new six-year lease with two further six-year rights of renewal generating a current annual rental of $76,500 plus GST and operating expenses per annum with annual rent reviews.
“The property at 366 Rangatira Road absolutely epitomises the over-arching Local Centre zoning by housing the all-day on-premise eating and drinking venue in the Beach Haven retail strip,” Ms La Hood said.
“Before opening as General Public, a substantial investment in the property was made by the vendor and the property was subjected to a substantial refurbishment programme to convert it into a neighbourhood-style bar and dining establishment.
“Improvement work undertaken included installing new bathrooms on both the ground floor and mezzanine level, upgrading the power supply, installing a full commercial kitchen, bringing in underground gas supply to the premises, and securing a liquor license.
“Prospective parties with a view for the future will be intrigued by the future development potential of the site under the AUP (OP) with options already explored by the vendor.”
General Public is owned and managed by Beach Haven local Nick McIntyre - a known and experienced hospitality operator who also runs the central Auckland Albion Hotel and Ellice Road Social Lounge licensed venue in the city centre.
Mr Kim said that in establishing General Public, Mr McIntyre had seized the perfect opportunity to bring neighbourhood hospitality to a suburban population which had been forced to travel out of their neighborhood for an evening meal or drink.
“There are few other licensed eating and drinking establishments operating in Beach Haven – locals have to travel several kilometres down to Birkenhead to the south or Glenfield to the east to access such amenities.
“Beach Haven, along with adjacent community of Birkdale, stand-alone geographically from the bigger shopping precincts of Glenfield and Birkenhead. Beach Haven’s retail hub is totally neighbourhood-focused, very much attracting a local clientele.”
The Beach Haven and Birkdale peninsular - with Rangatira Road running through its arterial spine – has a population of approximately 20,000 residents. General Public and its corner site premises are the first place for Auckland ferry commuters using Beach Haven wharf to pop in for a quiet drink or bite to eat on their way home after disembarking from the ferry terminal some 500 metres away.
Mr Liu said initial conceptual drawings had been designed by the vendor which reflected the additional development potential to add an upper level to the building and increase the future revenue stream.