High-visibility retail unit up for auction
Unit B is for sale at 234 Archers Rd, Wairau Valley.
A retail unit with a modern design-built showroom on a highly visible North Shore corner site in the heart of Wairau Valley will go under the hammer at the end of this month.
“This property is fully occupied with a long term, secure tenant,” says Dave Lane of NAI Harcourts North Shore who is marketing Unit B at 234 Archers Rd for sale by auction to be held at 12 pm on Thursday October 30 at the Harcourts Auction Room, 400 Beach Road, Mairangi Bay – unless the unit sells earlier by negotiation.
Lane says the 663.34 sq m unit was built in the 1960s and features a wide street frontage on a 4970.9 sq m freehold site at the intersection of Poland Rd and Archers Rd.
“It is in good condition with general construction comprising concrete foundations and floor, steel fabricated and concrete block walls, full span steel warehouse roof beams, wooden cross supports and long-run steel roofing.”
The building comprises a showroom of 198.15 sq m; medium stud warehouse of 382.28 sq m, office of 50.24 sq m; lunch room 18.31 sq m and low stud storage of 14.36 sq m. There are nine allocated car parking spaces.
Lane says the property, which has a capital valuation of $1.4 million, has been leased for the past 16 years by NZ Safety, New Zealand’s largest supplier of personal protective equipment and work wear. “The Archers Rd retail location is one of its top performing stores,” he says.
NZ Safety pays currently pays annual net rent of $107,096 plus GST on an eight year lease that commenced in 2010 with a six year right of renewal and final expiry date of February 29, 2024.
“It is one of four similar buildings built in the 1960s and now all owned separately as freehold units,” Lane says. “There have been subsequent upgrades to the property, including the construction of the showroom area.”
Dave Lane of NAI Harcourts.
He says a benefit of the property is its “easy-to-find location” within a short distance of the Tristram Avenue and State Highway One motorway junction via Wairau Rd; or the Northcote motorway junction via Sunnybrae Rd.
The site is currently zoned Business 9 which provides for a wide range of employment generating business activities.
“Under the proposed Unitary Plan, the property is zoned Light Industrial and purchasers who may be seeking to investigate potential redevelopment or alterations to the property, should consult with a council planner,” Lane says.
He says the area is fast becoming a popular location for retail use and the Archers Rd unit is in an outstanding position in terms of street exposure.
“It sits adjacent to Mitre 10 Mega, Bunnings and close to Pak’nSave and other bulk trade retail outlets.”