Blockhouse Bay retail units

4:08 PM Friday September 8, 2017 True Commercial

The units for sale at 552-554 Blockhouse Bay Rd are indicated by a red border. Photo / Supplied

Adjoining retail units in the Auckland suburb of Blockhouse Bay, leased to a Thai restaurant and a hair salon, are for sale.

JLL agent Kevin Reardon is marketing the units, located at 552-554 Blockhouse Bay Rd, both of which are on long term leases.

Reardon says the property is for sale for the first time in 31 years, offering a low-risk investment with reliable cash flow.

The premises are divided into neighbouring 50sq m and 53sq m unit-titled shops - the result of the original freehold site being split in half.

He says the units are in a prime location along Blockhouse Bay Rd, in the middle of the Blockhouse Bay Village.

“This is a well-established area, with high foot and vehicle traffic counts. So this is a good opportunity for investors to get their foot on the commercial property ladder.”

Reardon says Blockhouse Bay Rd is a busy route for bus services and well connected to all areas of Auckland.

The properties are near the local school and Countdown supermarket, in what is a popular, growing area and this is well-recognised, as the area is tightly held.

Zoned retail town centre, the single-storey property is in good condition, he says.

The roof was replaced in 2016 and the building has been well maintained by the tenants and vendor throughout the years. Both shops have floor-to-ceiling windows facing the road.

Reardon says Blockhouse Bay continues to show itself as a growing commercial/residential area. With the recent Waterview Tunnel, road improvements and population growth in Auckland city, it is proving to be well connected to the city itself.