The property housing a flagship restaurant for an iconic New Zealand buffet eatery is up for sale in a bustling North Shore retail hub.

The standout corner site in the Wairau Junction precinct, in Wairau Valley, is well-known to patrons as home to the popular Valentines buffet restaurant chain.

Valentines has traded successfully at the Wairau Road premises for over 12 years. It recently reaffirmed its long-term commitment with a new six-year lease, and the lease agreement provides for a further six-year right of renewal.

The approximately 810-square-metre freehold unit generates a net rental return of $245,000 plus outgoings and GST per annum.

Valentines has been serving guests in New Zealand since 1989, and has become synonymous with value-for-money buffet dining with an extensive range of Kiwi and international cuisine.

Bayleys salesperson Quinn Ngo said the Wairau Junction restaurant was purpose-built as a flagship location for Valentines.

“This resulted in a high-quality, modern fitout befitting one of the country’s best-loved dining experiences.

“The restaurant features elevated seating for up to 180 people, open-plan food stations, a high-spec commercial kitchen, and a separate enclosed gaming area with 18 licensed slot machines,” Ngo said.

Located at Unit 1, 160 Wairau Road, Wairau Valley, Auckland, the property is being offered for sale through Ngo, along with Steven Liu and James Chan of Bayleys Real Estate.

The sale is by way of a tender closing on Thursday 16 October, unless it is sold prior.

Liu said the restaurant and property benefited greatly from being part of the thriving 4,800-square-metre Wairau Junction complex, which was extensively upgraded in 2013 by respected Auckland developers Midpoint Investments.

The hub sits prominently with wide street frontages to View Road and key arterial Wairau Road.

“This lively cluster of 22 tenancies has significant pulling power in a catchment with around 180,000 residents within a five-kilometre radius.

“With plenty of customer parking and excellent accessibility, this location ensures busy foot traffic and convenience for patrons and businesses alike,” said Ngo.

The Wairau Road site is zoned Business - Light Industry under Auckland’s unitary plan, with commercial retail use as a permitted activity.

Chan said the attractiveness of the wider area was evidenced by the presence of a raft of big-name retailers and bulk retail outlets, including Bunnings, Mitre 10 Mega, Pak’nSave and McDonald’s, plus other restaurants, a Hoyts cinema complex, and car dealerships.

“These factors add up to make the Wairau Road property a well-rounded offering for commercial property investors seeking secure income from a quality, long-term tenanted asset in a fast-growing precinct.

“The combination of a prime location, extensive renovations and purpose-built facilities maximises its appeal, particularly for investors with an interest in the hospitality or entertainment sectors,” Chan said.