Hiskens says a recent substantial fit-out to the building completed by BNZ indicates the tenant's high level of commitment to the site which is just a 10-minute drive from Auckland's central business district.
"As far as the tenant covenant goes, a bank such as BNZ, with its strong parent company the National Australia Bank Group, is very attractive to investors looking for sound commercial property investments."
BNZ's current lease term extends for a six-year period, with a right of renewal providing the option to extend the term to April 30, 2022.
The two-level building has received a full structural report indicating compliance with seismic strength requirements.
"The property has been refurbished several times since construction and offers well-presented retail and office space in a tightly held location," says Hiskens.
O'Brien says high-profile bank branch properties in thriving commercial centres are not seen on the market very often.
"Demand for a quality property like this among investors should result in a high level of interest in the auction room," he says.
"There is a large volume of investment money looking for a home in the commercial property market at the moment, given low borrowing rates and the strong returns available on property compared with other investments."
O'Brien says Takapuna is reporting buoyant growth and has increased in popularity among commercial property investors.
"The rising activity has signalled the suburb's transformation into the North Shore's central business hub, in line with Auckland Council's plans for the city," O'Brien says.
"Substantial projects are either underway or in the pipeline over the next few years.
"These will incorporate apartments, offices and mixed use commercial; along with car parking, specialty retail and bars and restaurants - a broad range of projects which will inject a huge boost of vitality into the Takapuna central business district."
Hiskens believes the new developments will result in a more intensive mixed use live-and-work environment in coming years.
"The North Shore has always been a great place to live and work - with residents having access to stunning beaches while being relatively close to the Auckland CBD.
"We also believe it is an ideal place to invest with many developers, individuals and Auckland Council dedicated to growing Takapuna into a key business hub."
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