A substantial Takapuna unit housing well-established tenant Ballistics Wake & Snow is on the market for sale.
The snow and water sports retail shop occupies the 370 square metre open,
High-stud retail unit at 66 Barrys Point Road, Takapuna on Auckland's North Shore on a new five year lease with a bank guarantee, generating annual income of $135,000 plus GST.
In the fast changing commercial and retail area, Ballistics Wake & Snow has six on site car parks, four directly in front of the store and another two on the northern side of the property.
Wake boards, snow skis and ancillary equipment and clothing is sold from the premises which have plenty of room for clothing and board displays.
The property is being marketed by Bayleys North Shore agents Ranjan Unka and Nelson Raines and will be sold by private treaty closing at 4pm on June 27.
Mr Unka said the property benefited from the new Mixed Use zoning under the Auckland Unitary Plan, which allows continued transformation of the light industrial and retail area and the inclusion of residential development.
Ballistics Wake & Snow's lease runs until June 2029 with one five year right of renewal. Income growth is provided by a 2percent increase in rent and a market review at lease renewal.
The company was started in 1992 with snowboards and windsurfers, but when windsurfing took a dive in popularity, it turned to skateboarding, for a short time, wakeboarding, waterskiing and kites, which it has ditched. Ballistics now rides the wave of wakeboards and snow skis.
The owners are on the floor at the coal face and have a battle hardened crew of long term full-time and part-time staff all involved in snow, wake and kite sports.
Its premises are road front and a right of way on the northern boundary gives access to the other units in the development.
The front section of Ballistics Wake & Snow showroom is attractively finished with carpet floor coverings, painted block walls and ceilings lined with timber panels. The mid-floor retail space has a suspended ceiling and also includes partitioned amenities and a storage area with lunchroom.
The showroom is air-conditioned with three wall-mounted incremental units, two located at the front of the building, whilst one is at the rear of the retail space. The building has a seismic rating of 70 percent of new build standards.
The retail façade has non-tinted glazing to over approximately one half height, with the main remainder being fibre cement panels. There is an attractive angled canopy area providing good signage to passing traffic on Barrys Point Road, although this can be seen from the motorway interchange.
Situated on the eastern side of Barrys Point Road, about 100 metres to the north of its intersection with Esmonde Road. Barrys Point Road is a main arterial road linking Anzac Street and Pupuke Road in the north to Esmonde Road in the south. Traffic flows in this area are high.
The surrounding development includes mainly older industrial type buildings, a number of which have been refurbished into showroom space and are now of a more modern appearance.
The area is well known for its motorcycle retailers, together with a number of cycling and outdoor recreation stores. Harley Davidson, Cycletreads and Honda are immediate neighbours.
“This is a popular location within easy reach of the motorway system and surrounding development tending to a more commercial focus,” Mr Unka said.
“This is a good opportunity for a buyer wanting a passive income.”