The two retail outlets for sale at 38 Wakelin Rd, Beachlands.
The two retail outlets for sale at 38 Wakelin Rd, Beachlands.
A prime Mixed Use investment property encompassing two shops, a modern house and a self-contained flat is for sale in the rapidly growing suburb of Beachlands on Auckland's southern Pohutakawa Coast not far from Maraetai.
"The attraction of this property is the flexibility of the five tenancies and multiple income streams with the prospect of rental upside," says David Sylvester of Barfoot & Thompson Commercial who, with colleague Kim Loo, is marketing it for sale by auction at 10.30 am on Wednesday, October 21, at the agency's auction room at 34 Shortland St, in the Auckland CBD.
Sylvester says the commercial building has a lettable area of 320 sq m while the total residential component of the property is 355 sq m.
"The freehold site has an area of 922 sq m with good access via a service lane to the rear," he says. "The land is shaped as a true rectangular parcel with a main road frontage to Wakelin Road of 20 metres and an average depth of 46 metres."
The commercial tenancies are NZ Post and NZ Police along with a BNZ ATM machine which supplements the rent paid by the two anchor tenants. Angle street parking is provided directly in front of the shops.
The residential component of the property has two tenants on periodic tenancy agreements. The net annual income from all the tenancies is $92,000.
Loo says the property has a Business 1 zoning which is applied to local shops distributed throughout the residential areas of Manukau.
"The local shops tend to be conveniently located within walking distance for most residents with the zoning allowing a broad range of retail activities, offices, services and facilities.
The three level residential property included in the property sale of 38 Wakelin Rd, Beachlands.
"This property is within the only commercial centre in the suburb of Beachlands and within a community retail and office development housing a mix of businesses that are critical to the local residents."
Loo says Beachlands has grown significantly over the past few years with the development new subdivisions like Spinnaker Bay and the recent commencement of a residential development in nearby Pine Harbour.
"A new commercial development called Beachlands Junction is planned with completion expected to be around mid 2017. This will be anchored by a large format Countdown supermarket and will be complemented by a mixture of retail and office tenancies.
"This large scale development has been deemed viable due to the rapid population growth and need for more services in the Beachlands and Pine Harbour areas," Loo says.
Beachlands is about a 20 minute drive from the eastern suburbs of Botany, Howick, Highbrook and East Tamaki which provide a significant number of jobs for Beachlands residents. Beachlands is also served by a regular ferry service to Central Auckland with the journey taking about 40 minutes.
"The Beachlands lifestyle, the nearby employment opportunities and good connectivity
to Auckland Central is expected to result in continuing population growth and the need for more commercial property," Loo says. "For investors, this area is a very attractive proposition with rental and capital values predicted to continue climbing.
Sylvester says the residential building included in the sale comprises a three level, three bedroom dwelling and a self-contained two bedroom flat. A feature of the property is its three balconies, two of which are located on Level 2 and the third on Level 3. The main living areas, bedrooms and balconies are all north facing.
The double garage on the ground level gives internal access to the stairway leading to the upper levels where the second level contains a kitchen, one bathroom, a generous living area, two double bedrooms and a study.
The upper level houses a lounge and living area, a double bedroom and a bathroom. "This
residence has sea views from the large north facing balcony," Sylvester says.
The flat is situated on the ground level and has a floor area of 75 sq m with main access via a ranch slider onto the dining and lounge areas while the kitchen is immediately to the right.
The flat has two double bedrooms with built in wardrobes; and a bathroom with one toilet, a shower and a vanity unit.
"Tenants also have the use of fenced outdoor area," Sylvester says.
Loo says the property is in excellent condition with a seismic Initial Evaluation Procedure (IEP) rating of 100 per cent or A-plus.
