It is, as ever, a good time to buy.

The development site, at 4 Ireland Rd and 7-9 Lagoon Drive, is being marketed by commercial brokers Reese Barragar and Cam Paterson who are selling it by tender closing at

2pm on Friday, May 25, unless sold prior.

“There are four low-level buildings with an estimated building area of

2000sq m on the site along with around 50 carparks,” Barragar says. “However, the site is consented for the construction of six commercial units with 91 apartments.

Currently, it is leased to three tenants who are paying total holding income of about $174,000 plus GST per annum with all the leases having

demolition clauses.”

Paterson says the property is zoned Business Town Centre with a potential height restriction of up to 18m and allowing for both commercial and residential uses.

“This is a strategically located site on a five-pronged intersection serving key arterial routes including Jellicoe Rd, Lagoon Drive and the Ellerslie-Panmure motorway — which is a major link from the eastern suburbs of Panmure, Mt Wellington, Glen Innes, Pakuranga, Howick and East Tamaki to State Highway 1.”

Paterson says Panmure real estate values are likely to benefit from the continued development of the Auckland

Manukau Eastern Transport Initiative, which has already greatly improved road, bus and train transportation in the area including the opening of the Panmure rail station just 400m from the property.

Not far away in Ellerslie is another Insite portfolio listing comprising a comprehensively modernised 1950s’ standalone building of 452sqm on an 805sq m site, which is fully leased to the ‘funky’ Gasket Cafe and a Bottle-O liquor store.

“Zoned Business Mixed Use, this high-profile, low maintenance and passive income-generating property offers a secure annual cash flow of $93,235 plus GST from established occupants,” says Andrew Clark who, with colleague Nick Wilson, is marketing 23 Kalmia St for sale by tender closing at 4pm on Wednesday, June 6.

“It has built-in rental growth, strong tenant covenants and is located on the Ellerslie town centre retail fringe a short distance from the train station,” Clark says.

“Situated on the eastern side of Kalmia St the tenants benefit from the building being exposed to 160,000 vehicles a day on the Southern Motorway and 8000 a day passing between Main Highway, Kalmia St and Great South Rd.”

Across the harbour bridge at Northcross on the North Shore, is another steady passive income earner in the form of a property earning $364,894 per annum plus GST plus operating expenses from a 12-year lease to Z Energy Ltd plus one 12-year right-of-renewal,

“It’s on the market for the first time in 35 years,” says broker Nick Brown who, with colleague Max Andrews, is marketing the elevated freehold site in two titles of about 2932sq m at

847-849 East Coast Rd for sale by tender closing at 4pm on Wednesday June 27, unless sold prior.

“A favourable lease providing for frequent rent reviews and other investment attributes, will add-value to the property’s long-term development potential,” Brown says.

Andrews says the Z-service station has a low site coverage and shares a prime corner position with 12 other retail outlets.

The Business-Local Centre zoned site has a wide street frontage on the busy intersection of Carlisle, East Coast and Oteha Valley Roads.

To the west, on Kumeu’s main road, is another fully-leased portfolio offering, encompassing three freehold properties being disposed of by a family trust.

“Prospective purchasers can make offers on one property or all three,” says agent Peter Jeromson who is marketing 190-196 Main Rd for sale by deadline private treaty closing at 4pm on Wednesday June 7, unless sold prior.

“This split-risk property has a variety of office, retail, industrial and yard uses,” Jeromson says.

“At 190 and 192 Main Rd, established tenants include Labtests, VTNZ, Subway and Bay Audiology; while at 196 Main Rd, the tenant has leased the 3420sq m yard on a monthto-month basis.”

Jeromson says the property is in a high growth area central to Kumeu’s commercial hub with frontage exposure to State Highway 16.

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