Former Wairau Westpac now for sale

5:00 AM Wednesday October 19, 2016 True Commercial

With 31 carparks, the 80s vintage property at 110 Wairau Road has a showroom, offices and a warehouse at the rear.

Once a Westpac bank branch, a high-visibility Wairau Rd property on Auckland’s North Shore is now on the market for sale.

With two tenants and a total of 31 carparks, the freehold property at 110 Wairau Rd has a showroom, offices and a warehouse at the rear.

Barfoot and Thompson commercial sales agent Tim Bibby and commercial sales manager Simon Farlsand are selling the property, which is for sale by deadline private treaty, to conclude on November 16, unless sold earlier by negotiation.

Bibby says the premises, which was built in the 1980s, comprises a ground floor showroom/offices of 371sq m, first floor offices of 406 sq m and a rear warehouse of 489sq m.

“These areas are fully air-conditioned, carpeted and partly partitioned and are occupied as one tenancy but have the flexibility of separate tenancies if required,” he says.

“The rear warehouse has been recently refurbished and consists of high stud workshop area and attached offices. The rest of the 1967sq m site consists of on-site parking, with access to and from Wairau Rd.

The property is zoned Business 10 under the North Shore Operative Scheme and Light Industrial, under the proposed Auckland Council Unitary Plan.

“The site benefits from a flat contour from front to rear.” says Bibby.

Wairau Valley

Farlsand says Wairau Rd is one of the North Shore's busiest thoroughfares, and this location enjoys high visual exposure and profile.

“The property comprises a significant and valuable commercial facility in the well-established and mature central Wairau Valley industrial and commercial district.

“It is conveniently positioned close to the Tristram Ave, Northern motorway interchange, and the commercial hubs of Takapuna and Milford. The scale and physical characteristics of the site are excellent.

“It benefits from a positive contour, strategic location and also close proximity to public amenities and transport,” he says.

“There is excellent access to motorways, with numerous access points to the surrounding commercial areas.”

Big Ideas Group

The rear warehouse of 489sq m is leased to Big Ideas Group Ltd on a six-year-term, from September 1 2015 at a rental of $68,500 net per annum. The rental is reviewed every two years.

This is a private company formed in February 2014.

They state that their strengths are experience and organisation and they provide a full signage service from design and manufacture through to installation.

Wolfstrike Rental Services

The ground floor showroom area of 371sq m and first floor offices of 406sq m are both leased for six years to Wolfstrike Rental Services Limited — the subsidiary of an ASX-listed public company — at a rental of $197,570 net. The lease to Wolfstrike commenced on June 1, 2016.

Wolfstrike Rental Services Limited is a wholly owned New Zealand subsidiary of ASX listed Wolfstrike Rentals Group Limited.

The New Zealand operation was originally incorporated in June 2008 and is involved in the sale and supply of retail point of sale systems and equipment, eftpos terminals, cash registers and security systems.

WolfStrike Rentals Group is an Australasian company with a core focus on the financing and management of rental contracts for technology solutions.

WolfStrike provides a range of financial and operational services throughout Australia and New Zealand. Its operating expenses are $37,653.00 pa.