On the Ponsonby Dog Leg with plenty of exposure to traffic

Owner says the 240sq m building has never lacked a tenant. Photo / Supplied

A 220sq m commercial building is for sale on the corner of Prosford St and Redmond St, close to the Three Lamps retail shopping strip on Ponsonby Rd.

"There really aren't many properties like this one with strong exposure to motorists halted by traffic lights on the corner of an arterial route, with the added bonus of its own carparking," says Cam Paterson, commercial broker with Barfoot & Thompson Commercial who is marketing the building for sale by deadline private treaty closing on September 16.

The building, on a 280sq m site at 3 Redmond St, is situated on what is commonly referred to as "the Ponsonby Dog Leg", where northbound traffic from Ponsonby Rd meets Jervois Rd. It is currently occupied by a Resene Paint retailer.

Paterson says the property is "a basic concrete block building that looks to have been constructed around the mid-20th century".

It comprises 170sq m of street-level space and a 50sq m basement accessed via an internal stairwell or through a side door off Prosford St. The building is built to the east of the site, giving access to five carparks off Redmond St.

The site is zoned Business 2, which provides retailing office and commercial service activity at a medium intensity, suburban level.

A cross-section of permitted activities allowed as of right include: care centres, educational facilities, retail premises less than 500sq m in area, healthcare services, offices, work rooms and residential units in existing buildings.

"The property has been owned for about 20 years by Betty Wingrove, who has seen several tenants come and go during her family's ownership," Paterson says.

"It was a tyre shop until 2002 when the retailer Plants and Pots took out a lease which was later taken over but the current tenant, Paint on Ponsonby.

"Betty says there has always been strong interest in the property from a leasing perspective and they have never been short of a tenant."

Paterson says Paint on Ponsonby have recently taken their right of renewal but the rent, currently at $30,000 net, is to be reviewed by the next owner.

In terms of development controls, the Business Activity 2 zone incorporates a maximum height of 12.50m, a basic floor-area ratio of 2:1 and a maximum floor area ratio, inclusive of bonuses, of 4:1.