Browns Bay shops for sale
The two-storey retail property (foreground) at 41 Bute Rd, Browns Bay.
The Bute Road Retail Centre at Browns Bay is on the market.
The property at 41 Bute Rd has a net lettable area of 1044sq m, with tenants including a childcare centre, takeaway food outlets, fruit and vegetable and convenience stores.
The freehold property generates annual rent of about $381,000 and has a single vacant unit of 94.4sq m.
It is being marketed for sale by JLL agents John Binning and Ian Hall with the sales process, involving expressions of interest, closing on November 23.
“This development has been unit titled, which gives the new owner options to sell individual units in future. However we are marketing the entire property for sale,” Hall says.
“The childcare centre is on a long-term lease to Lollipops Educare, which expires in 2024 with two-yearly reviews, the next being in January 2017.”
Binning adds that the modern development, built in 2011, has 32 carparks and is accessible from both Bute Road and Beach Road.
The location is well served by public transport, with express buses to the city leaving from Beach Road, says Binning.
There are six ground-level retail units with the childcare centre upstairs, which is licensed for 75 children.
The 2093sq m site is located right on the roundabout where Beach Road, Bute Road and Woodlands Crescent meet, Hall adds.
“It has frontage onto both Bute Road and Beach Road with driveways onto each road. This is one of the main routes into Browns Bay, meaning the property benefits from excellent exposure to passing traffic. The property is also walking distance away for the many apartment dwellers who live on Bute Road.”
The property is zoned Town Centre under the Proposed Auckland Unitary Plan – one of the three primary zones for the growth of commercial activities. It is surrounded by a mix of residential, light industrial and retail businesses with several parks and recreation areas nearby.
The property is located 20km from Auckland’s CBD (a 20-minute drive) with access to the Northern Motorway via Greville and Oteha Valley Roads, about five kilometres away.
“Browns Bay is a bustling beachfront community of more than 4000 people, with a sizeable commercial centre. There is retail on both sides of Clyde Road with a variety of cafes and restaurants on the beachfront. Browns Bay has two supermarkets, a primary school and three retirement villages within a kilometre of the beachfront.” says Binning.