"This sale represents a sound investment opportunity on behalf of a motivated vendor."
The tenants are Tasman Copy Centre, Power Tool Shop and Vodafone NZ.
Tasman Copy Centre designs packaging, business stationery and offers printing services. It pays annual rent of $30,000 on a five-year lease with two five-year rights of renewal.
Power Shop, on a four-year lease with two rights of renewal of three years, pays $58,000 annual rent.
The company is a well established retailer and has another store in Cavendish Drive, Manukau.
Vodafone pays $9624 a year for a transmission tower on the site on a five-year with five rights of renewal for five years.
"This is a significant parcel of land strategically located on Wairau Rd with excellent exposure to the State Highway 1 motorway," says Jiao.
"It is situated less than 100m to the busy Tristram Ave motorway interchange and is very accessible.
"Its flat, rectangular shape with deep frontage provides excellent space for customer parking as well as a common parking area for the tenants to the rear of the property."
It was built in 1977. An extension was completed in 1984 enlarging the showroom and offices which now largely form the second tenancy.
In 2011 further renovations were completed that enhanced the property to comprise two fully self-contained lettable areas. The property now has a 96 per cent initial evaluation procedure (IEP) earthquake rating.
The general construction of the building is reinforced concrete with concrete block walls and painted iron roof. "The tenants make good use of the interior for showroom, offices and designated work areas," Jiao says. "Overall the exterior and interior are in a good, clean condition."
Jiao and colleague Mike Er have been exclusively appointed to market the second North Shore retail property at 46G Northcote Rd, Northcote, which will also be auctioned on August 15 unless it sells beforehand by private treaty. The freehold 311.5sq m building with nine uncovered car parks is occupied by Bottle-O Northcote Rd and generates annual rent of $88,200 plus GST and outgoings. Lease renewals run until 2032.
Jiao says the building, with a service roller door at the back of the warehouse, is of concrete block wall and reinforced concrete slab foundation construction with long-run steel roofing and finished with plaster board and exposed beams.
It comprises 18.8sq m of office area, 112.7sq m of front retail space, a cold room of 61.5sq m, warehouse of 90.5sq m and convenience area and storage of 28sq m.
Er says Northcote Rd is a major North Shore arterial road and the property is about 100m from the major intersection with Lake Road and Ocean View Rd.
"All three of these roads are primary feeders to fully established residential areas," Er says.
"The Business 1 zoned property is about 3km to any one of three motorway entry and exit ramps and only a 10-minute off-peak drive to Auckland's CBD.
"The town centres of Northcote, Birkenhead, Glenfield, Beach Haven, Birkdale and Takapuna are all within a 5km radius and it is unlikely these fully developed suburbs will be allocated any additional business zone land."
Yet another property being marketed by Jiao, in conjunction with fellow Barfoot & Thompson agent Agnes Teh, is across the harbour bridge and further to the south in the heart of the Otara town centre.
The 2055sq m free-standing 1980s building on a 1737sq m freehold site zoned Business 2, is at 14 Fair Mall and being marketed for sale by tender closing at 4pm on August 19.
"The property has four frontages and is fully leased to 10 mixed retail tenants generating annual rental income of $382,270 net plus GST," Teh says.
"The anchor tenant is South Seas Healthcare Trust, a primary and community healthcare provider which has been established for more than 10 years.
"The organisation has been a leader in the development and delivery of the comprehensive primary care service based in Otara, with an enrolled population of over 40,000 patients."
South Seas Healthcare Trust has completed extensive works on the premises adjacent to the Manukau Institute of Technology.
"Fair Mall is ideally located for retail, being surrounded by similar commercial businesses and supported by a vast residential population which provides a good labour pool along with a large customer base," Jiao says.
"The centre itself is handily situated about 600m from the Papatoetoe-Otara interchange of the State Highway 1 motorway."
Just to the north at 20 Fairfax Ave, Penrose, Mike Jensen is marketing for sale by tender, closing 4pm on August 16, an industrial property with vacant possession on a freehold 1877sq m Business Activity 4 site.
"This offering can be described as two adjoining buildings," Jensen says.
"The front one is a two-level office building with storage below, while the second at the rear is a high-stud warehouse building.
"The office building has excellent road exposure to Fairfax Ave and parking for 31 cars."
The total enclosed building area is 1524.50sq m, made up of first-floor offices and amenities of 510.55sq m, mezzanine factory office area of 23.4sq m, high-stud factory 516.2sq m, ground floor entry and offices 144sq m and low-stud factory and warehouse including amenities of 330.35sq m.
The property is on the western side of Fairfax Ave, which runs between Walls Rd to the north and Station Rd to the south.
Jensen says the buildings are ideally sited in Penrose, which is one of Auckland's major industrial precincts with supporting industries, good transport links and an established population base.
"Penrose is about 12km from the Auckland CBD and is well placed to principal transportation routes including the State Highway 1 motorway in the east or State Highway 20 in the west which links to the airport, Manukau City and Hillsborough," Jensen says.
Also in Penrose, at 453-455 Great South Rd near the Ellerslie-Penrose motorway interchange, is a 10-room, two level property which operated as a karaoke bar and restaurant.
There are also four two-bedroom units.
The properties, being marketed by Kim Loo of Barfoot & Thompson Commercial, will be sold with vacant possession and go under the hammer at the same auction as the two North Shore properties on August 15, unless sold beforehand.
"The freehold properties are in five separate titles and will be sold as one lot," says Loo.
"The combined land area is 1764sq m, with the standalone double-storey building occupying 752sq m and the four residential units on a common land area taking up about 1012sq m.
He says the double-storey building was purpose-built in the 1980s as a nine-room motel.
It was extended and refitted as a karaoke bar and restaurant in the mid-1990s with a further upgrade in 2004.
Loo says the karaoke bar and the restaurant was a popular venue providing Taiwanese cuisine with entertainment.
The business was subsequently leased to another operator and the lease was terminated in June this year.
The building has a total floor area of 445sq m with a ground floor area of 262sq m, with the first-floor area 183sq m.
The property structure is predominantly reinforced concrete slab foundation, with timber framing supplemented by steel portal frames, steel roofing and structural glazed facade to the front portion of the building.
The restaurant and bar are fitted with good quality floor tiles and timber parquet floors on part of the area, with decorative ceiling features and incremental air conditioning.
The karaoke rooms are sound-proofed and air-conditioned with carpeted floor, intercom system and extractor fan.
The kitchen is equipped with commercial grade stainless-steel fittings and tile floors.
A list of chattels will be provided.
The adjoining four units at 455 Great South Rd are renovated 1940s residential flats with two bedrooms and polished rimu flooring, concrete-pile foundation, brick walls and aluminium joinery
"Fifteen car parks are available on the combined site and further parking was made available by arrangement with One Tree Hill College next door for use during off-school hours," Loo says.
The land is zoned Residential 6A with 453 Great South Rd, where the karaoke bar and restaurant are located, being approved for a discretionary activity.
Loo says the restaurant has a liquor licence with a Grade A food hygiene rating.
"The size, versatility and strategic location of this property identify it as an ideal proposition for a buyer who wishes to operate a similar business with income from the rental units or convert into other uses.
"A passive investor may also choose to hold and lease out as a long term investment."
