October 04, 2017

Occupy, lease or redevelop

Topics: Commercial, NAI Harcourts, Press Release 0

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For the first time in over 30 years, a property on the tightly held Barrys Point Road is available for sale with vacant possession.

42 Barrys Point Road is marketed for sale by Andrew Bruce, Marty van Barneveld and Rob Meister of NAI Harcourts North Shore.

The property comprises a 1950s building on an 825m² freehold site, with wide street frontage onto Barrys Point Road and a rear boundary fronting the Shoal Bay Council Reserve.

With a floor area of approximately 188m², the building has operated as a popular café for the last 10 years and prior to this was a homewares/ garden showroom, office, video store and marine chandlery shop.

The current lease expired on 30 September, with the tenant choosing to relocate their business, allowing the property to be sold with vacant possession.

Bruce says it’s been held by the same owners for more than 30 years.

“And now it’s available, offering a truly rare chance to occupy and enjoy, invest and lease out, demolish and redevelop or build on the back.”

The property is zoned Business Mixed Use, which allows for both commercial and residential use with a height limit of up to 18m (subject to controls).

Situated on the eastern side of Barrys Point Road, approximately 300m from the intersection with Esmonde Road, Bruce says this is a highly sought-after location close to the commercial centre of Takapuna. It benefits from easy access to the Esmonde Road motorway interchange and is only 4-5 minutes’ drive from the Auckland CBD.

Van Barneveld says astute investors place significant value on the central location.

“It has easy access, convenience for customers, exposure to passing traffic, low vacancy rates and consistent demand for space from businesses seeking premises on the street.”

This ensures good capital appreciation, and with the recent zoning change to Business – Mixed Use, there is the potential for greater intensification of the site to incorporate a mixture of commercial and residential uses.

“Which is a great opportunity for both investment and development,” Bruce says.

The current building appears to have concrete block and wooden jack stud foundations, polished timber floors, timber weatherboard/ panel and brick wall exterior, combination of timber and aluminium joinery and an iron roof. The layout consists of a front retail area with disabled toilet facility and kitchenette towards the rear, separate offices, bathroom (an unconsented tenant improvement), open plan area and lower level basement storage.

Meister says this property will appeal to a wide range of buyers, including developers, owner-occupiers and investors.

42 Barrys Point Road is offered for sale by auction (will not be sold prior) at 1pm on Thursday 2nd November at the NAI Harcourts’ auction room at 128 Hurstmere Road, Takapuna.

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