This dual space office/warehouse offers owner-occupiers and investors flexibility in a location earmarked for growth.
This two-level 478 square metre office/warehouse at Unit A, 50 Diana Drive, Wairau Valley, offers two separate areas. The left hand side of the building contains ground floor office/storage space with an upstairs kitchen, bathroom, and space suitable for office administration, with a combined area of 199.7 square metres.
The right hand side of the property is a high stud warehouse area with low stud storage under a first level mezzanine. The mezzanine is in good condition and well-suited as office administration space. A kitchen and bathroom are included on the ground floor. The combined area of this area is 279 square metres.
Unit A, 50 Diana Drive, Wairau Valley is currently being marketed by Dave Lane of NAI Harcourts North Shore Commercial. The property will go under the hammer on Wednesday 6 May at 1.30pm at NAI Harcourts auction room at 128 Hurstmere Road in Takapuna.
The property will be sold stratum in freehold as a vacant possession.
Mr Lane says that low vacancy rates in the Wairau Valley means that interest in this well-presented unit will be high.
“This is a very tidy warehouse and office space that has been tastefully renovated. With commercial space on the North Shore becoming increasingly difficult to come by, and strong demand for quality properties, I’d expect interest in this particular unit to be high,” says Lane.
Mr Lane says that the two areas offers flexibility for owner occupiers and investors alike.
“I could picture an owner occupier starting out their business wanting to take advantage of the dual area by occupying one part of the property and sub-leasing out the second to provide additional income. They’d then have the capacity to expand by combining the two areas further down the track as their business grows.
“Similarly, the flexibility of two areas for investors means that the property can cater to a much broader pool of potential tenants from those needing a smaller 200 square metre space to those requiring the full 478 square metres,” says Lane.
The property is part of a complex that contains three unit title industrial properties all built in the mid-1980s.
The property includes a total of four allocated car parks.
The property is zoned Business 9 under the current Auckland Council District Plan and Light Industry under the Proposed Auckland Unitary Plan.
The assessed rental return is $47,870 net per annum. The estimated costs include a $1280.47 body corporate levy for building insurance, and Council rates are estimated to be $3,497.41 (including GST).
The capital valuation for Unit A, 50 Diana Drive was assessed as $465,000 on 1 July 2011.
Mr Lane says that the low interest rate environment and solid New Zealand economy are helping to enhance the attractiveness of commercial property investments.
“Commercial property is seen as a solid long-term investment opportunity and the Wairau Valley is an area that is predicted to undergo growth over the coming decade as residential and commercial interests vie for space in the competitive Auckland market.”
For more information or to request an information memorandum, contact:
Dave Lane
NAI Harcourts North Shore
021 928 031
dave.lane@naiharcourts.co.nz