The units at 27-33 Mokoia Rd, Birkenhead. Photos / Supplied
The units at 27-33 Mokoia Rd, Birkenhead. Photos / Supplied
Some bite-sized Auckland retail investment offerings are among 22 commercial and industrial properties scheduled to go under the hammer in Bayleys' latest Total Property portfolio auction later this month.
Five of the properties which will be auctioned on May 17, unless sold earlier, have annual net rental income of between $18,942 and $34,000, putting them well within reach of entry level investors into the commercial property market, says Bayleys' senior commercial auctioneer Richard Valintine.
"They would provide very affordable access into the market for investors looking to diversify from what has become a very pricey Auckland residential market. Alternatively, they could appeal to investors seeking opportunities to add to portfolios without too much of a capital outlay."
One, at Mangere Bridge town centre has been occupied by ASB since 1991.
The 160sq m single level building on a high profile 273sq m corner site at 19 Coronation Rd is producing net annual rental income of $34,000 from its current lease to ASB Bank until October 2018, with one six-year right of renewal. It is being marketed by Nicolas Ching and Beterly Pan of Bayleys' international division
"This is a well-presented, full air conditioned building seismically strengthened to 67 per cent of New Building Standard (NBS)," says Ching. "It is well positioned on the corner of Coronation Rd, the busiest road in Mangere Bridge, and Rimu Rd, in the vibrant Mangere Bridge town centre.
63 Queens Rd, Panmure.
le place to live given its peninsula positon with the Manukau Harbour on one side and Ambury Regional Park on the other set against the backdrop of Mangere Mountain. The opening up of extensive walking and cycling tracks and Auckland Council's beautification of the Onehunga foreshore area adjoining the old Mangere Bridge has greatly increased its appeal as a residential location for families in particular."
"It is also close to Auckland Airport without being on its flight path as well as the southwestern motorway (State Highway 20), with the Waterview connection enhancing access to Auckland CBD on completion.
On the North Shore, three units at 27-33 Mokoia Rd, Birkenhead, close to 60sq m each and near the entrance to the Highbury Shopping Mall, will also be auctioned.
Two are leased to longstanding tenants.
One adjoining the mall is occupied by Birkenhead Drycleaners on a lease until October 2018 with two two-year rights of renewal and is generating net annual rental income of $18,942 net. The other is occupied by Kebab Serai, one of the Turkish takeaway's four Auckland outlets, on a lease until April 2020, with two five-year rights of renewal which is producing $24,000 net pa.
385 Parnell Rd, Parnell.
A third unit is being offered for sale vacant but has potential projected net annual rental income of between $18,000 and $22,000.
The units are being marketed by Oscar Kuang and Owen Ding of Bayleys' international division in conjunction with Michael Nees, Bayleys North Shore Commercial.
"The units benefit from high volumes of pedestrian and vehicular traffic entering the neighbouring mall which is anchored by Countdown and The Warehouse, with a Club Physical gymnasium upstairs," says Kuang.
"They will also benefit from the town centre's growing population resulting from a number of new apartments and accommodation complexes on land opposite the library."
Other smaller retail Total Property retail offerings include:
• A 97sq m unit at 63 Queens Rd Drive, Panmure, with one car park at the rear has a new three-year lease, plus two two-year rights of renewal, to established occupant Willow Hair Design producing net annual rental income of $24,000 net. "The property is in a great main road position in Panmure town centre's busy retail strip," says Bayleys Auckland's Ken Hu. "With local government investing heavily in new infrastructure, including Panmure station and busway, this is an affordable opportunity to invest in one of Auckland's growth centres."
• A 54 sq m unit at 385 Parnell Rd, Parnell with two secure basement carparks currently returning $32,760 from a lease to women's clothing retailer N to U Ltd. "The property is being sold with a monthly lease in place to this long-standing tenant which has been in occupation for close to 17 years," says Andrew Wallace who is marketing it with Bayleys Auckland and City Fringe division colleague Cameron Melhuish. "The short lease also offers an owner occupier opportunity to take their business to the next level in this strongly located property." The property is part of The Ridge apartment complex built in 2000, with two levels of apartments above ground floor retail and basement parking.
