The corner property leased by medical centre for sale at 308 Lake Rd, Takapuna.
The corner property leased by medical centre for sale at 308 Lake Rd, Takapuna.
A prominent three level building that has been fully leased to a long term medical tenant is for sale in Auckland's highly sought after Takapuna Beach precinct.
"This is a high profile corner site which is passed by 30,000 vehicles every day," says Tim Bibby of Barfoot & Thompson North Shore Commercial who, with colleague, Bruce Jiao, is marketing 308 Lake Rd, Takapuna, for sale by auction at 10.30 am on Thursday, November 12, at the agency's Auckland city 34 Shortland St auction rooms - unless it sells earlier by negotiation.
Bibby says the freehold commercial property is on one title and was constructed around 1969 with upgrading and partial extension in more recent years.
The total building area is 254.14 sq m on a 417 sq m site with a holding income of $71,400 per annum plus GST and nine car on-site car parks.
Tim Bibby, Barfoot & Thompson North Shore Commercial.
"The tenant is Peak Primary Limited, a wholly owned subsidiary of listed public company Green Cross Health Limited which is a publicly listed company on the NZX," Bibby says. The medical centre is currently on a four year lease which commenced on December 1, 2013 with no rights of renewal.
The three level office building has car parking on the lower level with internal access to the building above. The ground level is a standard stud purpose-built medical centre with large waiting room and reception area; consulting and treatment rooms; offices and storage.
"The upper level encompasses a large staff kitchen and relaxation space with a sunny aspect and great natural light," Bibby says. "The building sits near the high point where Hauraki Rd meets Lake Rd and, due to its higher elevation, the top floor has panoramic views eastwards to the Waitemata Harbour and the Hauraki Gulf around to Takapuna and the surrounding urban landscape."
An elevated view of 308 Lake Rd depicting its Takapuna suburban setting.
The property is on the south eastern side of Lake Rd on the corner with Hauraki Rd where there is also significant pedestrian traffic.
"It is located a short distance from the southern end of Takapuna Beach which is about a five minute walk down Hauraki Rd."
Bibby says the location has grown in popularity with many businesses and residents due to the character of the area and its wide range of high quality amenities and services.
Other nearby businesses include: a redeveloped Countdown supermarket, Lone Star restaurant, Hammer Hardware, Labtests, Med Plus, Hauraki Corner Cellars, Hauraki Corner Pharmacy and Kabana Indian Takeaways.
"This area services residents in the neighbouring suburbs of Belmont, Devonport, and the Takapuna CBD and has easy access to the major motorway systems via the Esmonde Rd on and off ramps to State Highway One," says Bibby.
Jiao says the property is currently zoned Residential 4A under the North Shore Council District Plan with existing use rights as a medical centre. Under the Proposed Auckland Unitary Plan(PAUP)it is zoned Mixed Housing Suburban Zone.
Bruce Jiao, Barfoot & Thompson North Shore Commercial.
"The property has two street frontages and is shaped as a roughly rectangular parcel with frontage to Lake Rd of 10.7 metres and an average depth of 23.49 metres," Jiao says. "The sloping contour is in keeping with the land topography that sees the title fall about five metres from the high point on the Lake Rd frontage down Hauraki Rd. This gradient falls comparatively uniformly over the more than 20.48 metre length of the northern boundary."
Jiao says the basic construction of the building is of reinforced concrete foundations with timber floors over floor joists. The walls are brick with weatherboard used on the extension. Internal walls are plasterboard while the joinery is principally timber framed windows and doors but including aluminium joinery to the upstairs and main entrance. The roof is galvanised iron.
