The land and building housing an independent home whiteware appliance store tracing its family-founded roots back some 30 years and close to one of Auckland’s busiest roads has been placed on the market for sale.
The property at 11 Binsted Road in New Lynn is the home to a New Zealand-owned and operated business retailing washing machines, heat pumps, hobs, ovens and other electrical home appliances.
The property was built in the 1980s for the company founder, who subsequently sold the property and the business to separate owners. The current business owners have been operating the business for some 12 years.
The business is currently on a lease expiring in May 2018, generating rental income of $73,440 plus GST for the financial year ending March 31 this year. The tenant pays operating expenses.
The single storey building on 857 square metres of freehold land – zoned business light industry - is being marketed for sale at auction on March 7 through Bayleys Auckland. Salespeople Mike Adams and Phil Haydock said that with the retail business’s lease expiring in the middle period of this year, the premises should be viewed as: “pending vacant occupancy.”
“As such, it is an opportunity to purchase what will be a retail operations- sustaining premises. The large open plan interior floor space of the building means that a high volume of stock can be displayed at any one time – thereby reducing the need for additional warehousing space to carry stock,” Mr Adams said.
“This has worked particularly well for the current tenant, whose product range is based around bulky items such as stoves, ovens, fridges, freezers, washing machines and dryers. Meanwhile, the benefit of on-site car parking allows for ease of customer access.
“Long-term, the existing floorplan could also work perfectly for warehouse-style retailers looking for a minimalist stock display layout. That profile could include the likes of kitchen or bathroom design and manufacture businesses, niche furniture and bedding retailers, or an outdoor accessory stockist.
“The zoning allows for an element of manufacturing activity to be sustained from this location – making it potentially suitable for a business which makes its own products to sell direct to the public.
“Likewise, the amount of warehousing space at the rear of the property is amply suitable for a business which imports its products directly to sell to the public.”
The 556 square metre building has a B-grade initial seismic assessment rating of 75 percent and sits close to the intersection of Binsted Road and Rata Street – a main arterial route linking West Auckland with the city.
The building encompasses some 254 square metres of showroom space, 243 square metres of warehousing area, 23 square metres of administrative offices, and 36 square metres of mezzanine floorspace. It also has car parking for 12 vehicles.
Mr Haydock said the rectangular-shaped property benefitted from 16.9 metres of road exposure – which sustained its attraction as a retail shop. He said the building’s core structure was extended in 1984.
“The ground floor is built on a concrete slab and has steel posts and concrete block masonry walls, with iron roofing over steel beams,” he said.
Binsted Road is on the fringe of New Lynn’s commercial precinct which connects to West Auckland’s other light industrial zones in Rosebank Road and Kelson. The business light industry zone under Auckland Council’s operative unitary plan allows for activities such as manufacturing, logistics storage, retail, transport and distribution which have minimal environmental impacts and influence on nearby residential properties.
Neighbouring properties in the Binsted Road vicinity include businesses operating in the automotive accessories/repairs and panel beating sectors, as well as building trade services and light engineering firms.