Located on a highly visible corner site in the heart of Wairau Valley, Unit B 234 Archers Road has a design built modern showroom in a popular location.
Fully occupied with a long term, secure tenant, the property is up for sale by auction on 30 October.
It is being marketed by Dave Lane of NAI Harcourts North Shore, who says the investment will appeal to those looking to buy in this sought after area of Wairau Valley.
Built in the 1960s, the building enjoys a wide street frontage at the intersection of Poland and Archers Roads. The property covers 4,970.9m², with a floor area of 663.34m².
General construction is concrete foundations and floor, steel fabricated and concrete block walls, full span steel warehouse roof beams with wooden cross supports, attaching long-run iron roofline.
The building is in good condition and comprises a showroom (198.15m²), medium stud warehouse (382,28m²), office (50.24m²), lunch room (18.31m²), and low stud storage (14.36m²). There are nine allocated car parking spaces.
The property has been tenanted by NZ Safety –New Zealand’s largest supplier of personal protective equipment and work-wear – for the past 16 years. The Archers Road retail location is one of their top performing stores.
The current lease, which commenced in 2010, is for eight years, with a six year right of renewal and final expiry date of 29 February 2024. The annual net rent is $107,096 + GST.
One of four similar buildings built in the 1960s and now all owned separately as freehold units, there have been subsequent upgrades to the property, including the construction of the showroom area.
It is situated at an easy to find location within a short distance from the Tristram motorway junction via Wairau Road or Northcote motorway junction via Sunnybrae Road.
The site is currently zoned Business 9, which provides for a wide range of employment generating business activities. Under the proposed Unitary Plan, the property is zoned Light Industrial. Purchasers who may be seeking to investigate potential redevelopment or alterations to the property should consult with a council planner.
The CV sits at $1.4 million, with rates set at $9,932.24 plus GST. There is a body corporate levy of $7,861.57 plus GST.
Lane says the area is fast becoming a popular location for retail use and Unit B 234 Archers Road is in an outstanding position in terms of street exposure. It sits adjacent to Mitre 10 Mega, Bunnings and close to Pak N Save and other bulk trade retail outlets.
234B Archers Road, Wairau Valley is offered for sale by auction at 12pm on Thursday 30 October, unless sold prior. The auction will take place at the Harcourts Auction Room, 400 Beach Road, Mairangi Bay.