Bendon store is an entry-level rarity
The property at 18 Birmingham Rd, East Tamaki, has been the long-term home of a Bendon outlet store. Photo / Supplied
An Auckland property that has been the long-term home of the Bendon outlet store in East Tamaki is being billed as a rare ‘entry level’ commercial investment buy.
“It’s a superbly located premise built in the 1970s,” says James Marshall of Barfoot & Thompson Commercial who, with colleague Murray Tomlinson, is marketing 18 Birmingham Rd, for sale by auction at 10 am on Thursday May 25 at the agency’s Shortland St office.
The property is leased to Bendon Retail Limited for $53,857 per annum net plus GST and outgoings on a two-year term commencing February 14 last year with a two-year renewal taking the final expiry date to February 13, 2020.
“Standalone, freehold, investment properties in a good location like this, that can be classed
as ‘entry level’ opportunities for new commercial property investors, are very hard to find. Whether the purchaser elects to ‘put this in the bottom drawer’ as a relatively hands-free investment property, or seeks to add value, or looks for longer term tenant occupancy, this property promises to reward the owner.”
Comprising a mid-stud height warehouse of 602sq m with internal partitioning also creating a showroom, it profits from a strategic flat freehold 1143sq m corner site with full vehicle access. The building’s overall construction is of concrete foundations and floor, with concrete block walls, steel portals, steel portals and long-run steel roofing.
Tomlinson says the showroom created within the warehouse is a simple structure comprising timber framing with gib/particle board walls and a suspended grid system ceiling.
“As is often the case, the owners’ needs are changing and all involved agree that it is timely to sell,” he says.
This aerial view of the Bendon outlet store – bottom centre – depicts the building’s strategic corner location. Photo / Supplied
“This is a wonderful, generic property. It has goods access from both the front and to the
service lane at the rear. While it is configured for one tenant, it looks to have good potential to
accommodate two tenants should the desire arise.
“In the meantime, Bendon will continue to benefit from its lease which is due for the final renewal period early next year.”
Tomlinson says the property sits with frontage to a bend in Birmingham Rd facing due
northeast, while the rear on a service lane, faces due southwest. “The service lane, which is unusual to find, but of real advantage to property, is at the rear and runs parallel to Birmingham Rd.”
He says Birmingham Rd and the general area was one of the earlier industrial estates to be
developed in East Tamaki. “The first developments were in the late sixties, with the majority
of Birmingham developed and built in the mid-seventies. Birmingham itself is a cul-de-sac street
running of East Tamaki Rd, which also has Newark Place and Turin Place running from it as well as short cul-de-sac streets
“Motorway access south and north is readily accessible at the Otara interchange with State Highway 1 some 2.7kms away to the south west. Highbrook Drive provides a secondary motorway access point further away to the northwest.
Marshall says the Business - Light Industry zoning under the part-operative Auckland Unitary Plan, permits industrial activities that do not generate objectionable odour, dust or noise. “This includes manufacturing, production, logistics, storage, transport and distribution activities that do not impact adversely on amenity values and the natural environment – including adjacent
public open spaces and residential zones.”
James Marshall and Murray Tomlinson of Barfoot & Thompson Commercial.