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Retail units for sale in exclusive development offer golden opportunity for investors

Tags: Commercial

Two high-profile retail units on the ground floor of one of Auckland’s most prestigious new apartment buildings have been placed on the market for sale.

The two street-front units in the Jervois & Lawrence luxury apartment development at 165-167 Jervois Road, Herne Bay, offer prominent street frontage in one of New Zealand’s wealthiest urban neighbourhoods.

Situated in the heart of the Herne Bay commercial precinct, the commercial units sit beneath the soon-to-be-completed Jervois & Lawrence residential complex, which will feature 28 luxury apartments across five levels.

With building completion expected by mid-year, the new apartments at the corner of Jervois Road and Lawrence Street are being marketed as among the most exclusive residential offerings available in the Auckland market.

The ground floor commercial units at 165-167 Jervois Road are now being marketed for sale individually or together by negotiation, through Bayleys Real Estate’s international sales team.

Salespeople Oscar Kuang and James Chan said the freehold strata-titled properties for sale consisted of an approximately 135-square metre corner unit with dual street frontage and another unit of some 100 square metres fronting onto Jervois Road.

“These high-quality commercial units offer modern, architecturally-designed spaces which will appeal to a wide range of retail or professional services businesses,” said Mr Kuang.

“High ceilings and large shop windows will ensure tenants enjoy prominent exposure that makes the most of the site’s excellent street profile.”

Mr Kuang said the site would afford occupants high-profile visibility to both vehicular and pedestrian traffic along busy Jervois Road. The units would appeal to a range of tenants or owner-occupiers seeking premium premises to operate retail or professional services in a wealthy catchment.

“These properties represent a rare opportunity to secure a high-profile stake in a prestigious mixed-use building in the middle of one of New Zealand’s most affluent locations,” he said.

Mr Chan said similar retail spaces nearby had been known to attract rentals of around $800 to $1,000 per square metre.

“These two brand new commercial units are superbly positioned in Herne Bay. This is Auckland’s most exclusive suburb and one which has continued to attract a number of high-end businesses,” Mr Chan said.

The properties for sale form part of the Business – Local Centre zone under Auckland Council’s unitary plan.

Existing businesses around the Herne Bay town centre include designer boutiques, casual eateries and fine dining – along with hair salons, beauty clinics, boutique offices, two bowling clubs, visitor accommodation providers and two service stations.

Three minutes’ walk from the properties for sale, construction is due to begin soon on a new $40 million Countdown Metro store.

Mr Chan said the properties for sale also had excellent connections to other locations and amenities. “Jervois Road is a major arterial road linking Herne Bay, Ponsonby, and surrounding suburbs to Auckland’s CBD and Wynyard Quarter, which are less than 10 minutes away by car.

“This location also is also easily accessible from the North Shore via the Curran Street motorway on-ramp and has regular bus services right at its doorstep, including the handy Link bus,” said Mr Chan.

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