Parnell Movenpick
arfoot & Thompson Commercial have a good range of commercial properties for sale, with a large free- standing Glen Eden retail complex heading the list.
The freehold block — nine shops with a lettable area of 1436sq m plus t wo ATM spaces — i s located at 4055- 4059 Great North Rd.
It is being being sold by Barfoots commercial industrial agent Agnes Teh, the sale being by a tender process ending August 30, unless sold earlier.
Teh points out that the convenience retail shops stand upon a substantial land holding of 3,839sq m.
“This is a busy shopping complex, well supported by its customers.
“Existing tenants represent popular brands, including West Liquor; a roast shop; Green Bay Fruits & Veges; a Westpac ATM; a butcher, bakery and cafe; a seafood takeaway; a superette and an upcoming new laundromat. Most tenants have been here since 2004,” she says.
Each tenancy has been provisioned with separate water and power meters and there are also common meters.
The property has ample carparking, the IEP for the structure i s 100 per cent of the NZ Building Standard and the property stands within the very useful Business- Mixed Zone.
“The retail shops are fully leased — returning net annual income of $ 464,533pa.”
Teh considers the location strategic, as Great North Rd is a main arterial route with links to all major motorway systems.
“This property provides convenience retail destination shopping to the surrounding residential, industrial area and has a high passing traffic- flow from Great North Rd. It is prominent, with a particularly wide street frontage of about 80.4m onto Great North Rd, the average depth being about 47m.
“The contour of the site — predominantly level at the front and sloping towards the north eastern corner — allows for undercroft carparking.”
Teh describes the complex as being of good solid construction, with foundations and floors of concrete; concrete block base walls; Coloursteel and plaster textured exterior walls.
“There are internal walls of painted gib, aluminium joinery and Coloursteel roofing.
“And due to the unusually large scale of the offering, in my view it represents a rare opportunity indeed.”
Teh, along with commercial sales broker John Stringer, is marketing a retail shop at Parnell tenanted by a Movenpick ice cream outlet.
The property — one of three units on the ground floor of the six- level building at 155 Parnell Rd — will be for sale by auction on August 24, unless sold earlier.
The Movenpick tenancy i s on a separate freehold strata title, within a commercial building located in the well- established and fashionable commercial precinct of Parnell.
The freehold property comprises 68sq m, with a 6.3m road frontage, a single covered carpark.
It returns $ 59,700pa from a six- year- lease, which commenced July 11, 2016, and which has an expiry date of July 10, 2022.
The rating valuation was $ 1,030,000 as at July 1, 2014; annual rates are $ 7535 net, with body corporate fees $ 10,020 net pa ( including insurance).
“Parnell Rd is a main arterial road linking the major retail precinct of Newmarket in the south with the Auckland CBD in the north,” says Stringer. “It i s one of Auckland’s prime residential and commercial locations, overlooking the inner harbour and central city.
“The Parnell shopping and commercial precinct is a busy and affluent area and features as one of Auckland’s most exclusive retail destinations. Many of the businesses are associated with the tourist industry, restaurants, bars and high quality specialty goods,” says Stringer.
“An attractive point of difference with this property is that it is set back from the footpath drawing pedestrians into the seating area and restaurants under the trees and awning.
“This outdoor seating is owned by Auckland Council, however the public are encouraged to utilise it. The business takes advantage by placing tables and chairs in the area.”