Trendy, historic spot offers heady brew

Close in view of the building at 102 Quay St which houses the Brew on Quay bar and restaurant. Photo / Supplied

A high-profile, refurbished historic building at 102 Quay St, home to the popular Brew on Quay bar and restaurant in the Britomart precinct on the Auckland waterfront, has come up for sale.

The two-level standalone brick building with a total lettable area of 377sq m on a 341sq m site is being marketed by Tony Allsop and Tim Lichtenstein of Colliers International on behalf of Britomart Wharf Ltd, and is due to go under the hammer at an auction at 11am on Wednesday, August 17 unless it is sold prior by private treaty.

Allsop says the property's established tenant, Brew on Quay, pays $220,000 net per annum plus GST on an eight-year lease that will expire on June 30, 2025, if all rights of renewal are exercised.

"This is the most eastern building in Britomart and is registered as a Category I building by the Historic Places Trust and a category B protected building in Auckland City's operative district plan," Allsop says.

"It's a building with a rich history. The Colonial Sugar Refining Company, which leased the site in 1902, owned the Chelsea Sugar Refinery at Birkenhead, and needed a location close to the port and railway for its head office.

"The single-storey brick structure was completed in 1904 and The Colonial Sugar Refining Company remained in the building for more than 50 years. In 1961, the New Zealand Police took over the lease and the building operated as the Wharf Police Station until 1993."

In 2009, Phillimore Properties, renowned in Auckland as one of the best developers of historic property, undertook a comprehensive $1 million renovation of the building, which then started life as Brew on Quay.

"Phillimore Properties has a passion for heritage buildings," says Allsop. "The firm takes enormous care to restore and revitalise historic buildings around the city. As part of the refurbishment of Brew on Quay, it received a new Marseille tile roof, a clean brick facade and decorative brick parapet on the Quay St frontage."

Now specialising in the very best beers from New Zealand and around the world, Brew on Quay has a spacious central area with a high ceiling that opens on to many nooks and crannies. The bar's interior preserves many of the building's historic elements, including the richly wood-panelled police front offices, reception counter and strong room, mahogany partitions and 1920s toilet block and courtyard. Elsewhere the space has been cleverly modernised with numerous design features.

As part of the refurbishment, the original sugar store and cart dock at the back were refurbished and a modern roof terrace added within the original roofline.

Frequently busy with after-work drinkers and Vector Arena event-goers, Brew on Quay strives to retain the relaxed, friendly atmosphere of a true "local" bar.

Lichtenstein says the building leased to Brew on Quay has the advantage of being situated on a high profile corner site on Quay St in the fast-developing Britomart precinct.

"It's a very busy corner site," Lichtenstein says. "Not only is Quay St classified as a regional arterial route and second in daily vehicle counts only to the motorways, but Les Mills recently opened a new gym across the street, that gives the facility access and profile in a strategic spot at the entrance to both Britomart and the wider CBD for all the cars coming in daily from the eastern suburbs."

Lichtenstein says the $1 billion Britomart precinct has attracted numerous top-tier occupiers, including office tenants Ernst & Young, Westpac and Southern Cross, as well as a number of top fashion brands such as Jo Malone, L'Occitane en Provence and Ted Baker.

"This is because Britomart is at the leading edge of the CBD's move towards the waterfront," he says. "These world brands are attracted to the quality of the new spaces, the large catchment and the closeness to Vector Arena. Brew on Quay is only 600m from Vector Arena so it makes an ideal before and after meeting place for people attending concerts, shows and other events. Brew on Quay is also just a short distance from Auckland's central business district, the Viaduct Harbour area and soon to be completed Queens Wharf events centre, so it is in a prime location for the fast-approaching Rugby World Cup."

Allsop says Colliers expects a busy auction room.

"Not only is there a strong level of competition in the sort of price zone we anticipate, but the prime location and the nature of the building means that it will have popular appeal and represents an opportunity to own a slice of Auckland history."

Lichtenstein says he expects "investors with an eye to the future" to be attracted to a passive investment opportunity. "No other comparable part of Britomart is for sale at present - particularly one down at the waterfront, which is becoming the place to be," he says.

"As the new offices fill up around Britomart with thousands of workers, and as the world focuses on Party Central on Queen's Wharf over the next few months, the already sizeable catchment of patrons surrounding the pub will only increase."

The Brew on Quay bar has been dubbed "Beervana" by ViewAuckland while Biglittlecity.co.nz extols the bar as having "a great atmosphere, fine food and some of the best brews from around the world".

Lichtenstein says the decor is typical beer-drinking, stubbies-wearing Kiwi bloke meets chic, uptown city girl. "It is the perfect place to fill up on a pre-show meal and drink."