Church property on busy intersection

2:25 PM Friday November 10, 2017 True Commercial

The two-title property at 64-66 Taharoto Rd and 2 Northcote Rd is identified by a red border. Photo / Supplied

Adjoining sites in a high-profile corner position opposite Vodafone’s Takapuna head office are for sale, offering a variety development options.

Comprising close to a quarter hectare of land, the property at 64-66 Taharoto Rd and 2 Northcote Rd is in two titles.

It was formerly home to the Church of North Shore City and comes with a vacant 230sq m church building and a 140sq m dwelling plus 40 car parks.

The property is being marketed by Stephen Scott and Robert Platt, Bayleys Auckland, in conjunction with Ranjan Unka, Bayleys North Shore Commercial. Featured in Bayleys’ Total Property portfolio, it is for sale by tender, closing December 7, unless sold earlier.

“This is an under-utilised site given its strong location on the corner of one of the North Shore’s busiest intersections opposite the Vodafone building and the Smales Farm business park,” says Scott.

“It offers great exposure to high volumes of passing traffic that could be taken fuller advantage of as well as dual access from the two roads.”

Currently there are month-by-month leases in place over all of the car parks, along with short term tenancies on the dwelling at 2 Northcote Rd, which has been subdivided into two units. The rear unit has a residential tenancy while the road front unit is leased out as professional rooms for a medical therapist. Between them the car park, residential and commercial tenancies are generating total gross monthly income of $6616.

The church building is vacant, giving a new owner the potential to add value and earn additional income in the short term by hiring it out or possibly reconfiguring it for some other more regular use, says Scott.

“However, longer term the property needs to be developed more intensively to unlock its full value. A favourable Business-Mixed Use zoning under the Auckland Unitary Plan enables that to be done.

“It allows for a range of residential and/or predominantly smaller scale commercial activity up to a height limit of 18m. There are no floor-to-land area restrictions enabling development to the boundaries to maximise the property’s substantial profile to two arterial roads.

“Wide-ranging potential views from upper levels, including of Lake Pupuke, Auckland’s CBD and the Hauraki Gulf, would increase its appeal for a residential, hotel, or short-term apartment stay style development.”

The larger of the two titles is at 64-66 Taharoto Rd, which also contains the church building and comprises 1684sq m of land. However, 206sq m has been gazetted for roading use by Auckland Council. The 2 Northcote Rd title encompasses 817sq m of land, providing a combined area across the two sites of about 2295 sq m which would be usable for development, says Scott.

Taharoto Rd is a major arterial route which carries high traffic volumes in and out of Takapuna’s CBD, particularly in peak hours, while Northcote Rd is also a busy road carrying traffic to and from the SH1 Northern Motorway.

Unka says the property for sale is within easy walking distance of Lake Pupuke, as well as the neighbouring Quarry Lake, Smales Farm and North Shore Hospital, with many other complementary medical services conveniently located nearby.

“AUT University, the northern busway, as well as Takapuna and Milford’s substantial retail and commercial centres and their beaches are also only a short drive away. There is also good access to the Auckland CBD with the motorway and public transport.”