A versatile, fully-leased North Shore property combining retail, showroom, office and warehouse accommodation has been put up for sale, offering diversified income from a rich mix of tenants.
The two-storey building for sale at 179A Archers Road occupies a prime corner site in the heart of the commercial and retail hub of Wairau Valley. Its tenants range from a community education provider, to a commercial interiors designer, a furniture retailer, a commercial gymnasium and a Latin American food importer.
The tenancies generate total net rental income of $252,640 plus outgoings and GST per annum.
The property is now being marketed for sale by way of deadline private treaty closing on April 29 (unless sold prior), through Bayleys North Shore.
Salespeople Ranjan Unka and Michael Nees said the Archers Road property consisted of a freehold strata-titled building of approximately 1,409 square metres, along with 26 on-site car parks.
“The building offers two levels of modern, air-conditioned retail and showroom space fronting on to Archers Road, with a medium-stud warehouse to the rear,” Unka said.
“This is a high-quality structure with an A-grade initial evaluation procedure seismic rating of 100 percent of new building standard. With the roof recently replaced, the building has proven to be low-maintenance since it was refurbished a few years ago.”
Unka said the property’s versatile configuration was key to supporting its five diverse tenancies.
“The ground-floor accommodation along the Archers Road frontage has been partitioned into two separate commercial tenancies with good exposure from Archers Road.
“An Uplift Fitness Boutique gymnasium occupies the northern ground-floor unit, with amenities to the front and essentially open-plan space to the rear. Storage extends along the northern elevation of this tenancy. The second of the street-facing, ground-floor tenancies houses a store run by La Pachamama Limited, New Zealand’s biggest importer of Latin American food and beverages.
“Offices partitioned at level one are occupied by Community Education Foundation Aotearoa, a charity supporting children in hardship. These are predominantly open-plan, with the exception of a boardroom and offices to the roadside elevation. The offices receive plenty of natural light and have a pleasant outlook. Amenities on this level include bathrooms and a kitchenette,” Unka said.
“The remainder of the first floor also enjoys good exposure and direct pedestrian access from Archers Road. It houses a furniture showroom run by Kalletla Investments limited, trading as Lounge & Living, with an open-plan design and glazed frontage.
“The warehouse accommodation, with office and amenities, is occupied by commercial shopfitter Mark Manolas Interiors. This medium-stud space receives good natural light with roller-door entry, along with a pedestrian door,” Unka said.
Nees said a new owner would have an option under an existing resource consent to explore adding value by remodelling and adding to the building to provide two floors of apartments on top.
The Archers Road site is zoned Business – Light Industry under the Auckland Unitary Plan, which generally allows for activities such as smaller-scale manufacturing, production, logistics, storage, transport and distribution.
“The surrounding area is a mix of smaller to medium-sized industrial buildings developed in the 1960s to mid-1980s. Commercial and light industrial uses include various automotive and service-related businesses, together with a number of showrooms,” Nees said.
“In more recent times, conventional industrial structures have been converted to provide modern, quality commercial office or showroom accommodation. Purpose-built developments in the area include PAK’nSAVE, Mitre 10 Mega and Bunnings outlets.”
Nees said the Archers Road location also offered easy access to wider amenities and catchments, being within a 10-minute drive of Takapuna’s retail and commercial centre, while the Auckland CBD was within 20 minutes’ drive under normal traffic flows.