Ideal ‘hands off’ city fringe investment floor
The third level of this office building is for sale at 64C Khyber Pass Rd. Photo / Supplied
A stratum-in-freehold office floor is for sale as an ideal ‘hands off’ investment opportunity within an Auckland city fringe commercial building, strategically located on busy Khyber Pass Rd in Grafton.
“It’s the third level that’s on offer and it comes with five car parks,” says Sue de Jong of Barfoot & Thompson Commercial, who is marketing Unit J at 64C Khyber Pass Rd, Grafton, for sale by deadline private treaty closing at 4pm on Wednesday May 24, unless it sells earlier by negotiation.
“This is a superbly-located Mixed Use zoned building constructed in the 1990s and comprises four levels of office accommodation each with own assigned secure, undercover car parks,” de Jong says.
Unit J’s floor has a building area of 186sq m and earns annual rent of $43,140 from a lease to Archifact – Architecture and Conservation Ltd, with the tenant also paying body corporate operating expenses of $6370.09 plus GST and rates of $4740.53 per annum plus GST.
“The tenant renewed the lease on March 1 this year for another three years and there is a further right of renewal of two years,” says de Jong. “The rental income is $43,140 per annum and the tenant pays all the outgoings with the rent increasing by 4 per cent per annum. One single car park remains unleased.”
Unit J comprises carpeted, partitioned and air-conditioned office space with the partitioning of painted Gibraltar board and glass; and a suspended grid type ceiling. The office layout incorporates a reception area with kitchenette, toilets, a front office or storage area, a central general office, a boardroom and a rear corner office.
The kitchen contains a laminate sink bench unit with stainless bowl and built in cupboard and drawers. The washroom area has tiled floor and comprises two toilets, one being of ‘accessible’ standard and each containing a WC and hand basin.
The building itself is of overall concrete foundations and floors with structure and walls of precast concrete.
A canopy adjoins the main entry at Khyber Pass with double glass doors opening into a tiled foyer where a steel-tread stairway links all levels, together with an 11-person automatic lift. Full height glazing adjoins the stairway while the office levels have restricted side glazing, reasonable front glazing and more extensive rear windows.
The property is situated on the northern side of arterial Khyber Pass Rd opposite Burleigh St and 175m east of the major intersection with Symonds St.
The site has a frontage to Khyber Pass Road of 13.09m and an average depth of 59.72m with Madiera Lane terminating at the rear northwestern corner and a right of way giving access to the rear of the property.
De Jong says the location is a well-established fringe city precinct with surroundings developments being of a mixed nature, including a number office buildings both of medium height and high rise.
Adjoining the property on the western side is 60 Khyber Pass Rd where global brand Fujitsu is a tenant, while the former Newcall Tower at 44 Khyber Pass Rd is currently being converted to apartments.
On the eastern side is a child care centre and St David's Presbyterian Church. Almost opposite is the Church of the Holy Sepulchre and an Auckland city reservoir with rooftop parking on the corner of Burleigh St. The rear part of the property comprises apartments accessed off Madeira Lane and nearby is a large terrace house development.
An access ramp to the State Highway 1 southern motorway system is on Khyber Pass Rd itself and the Newmarket commercial centre is 1.5km away at the eastern end of the road.
The building is near major Auckland transport routes including New North, Mt Eden, Dominion and Great North Rds and is only a short driving distance from the Auckland CBD. The location is also within easy distance of the Auckland Central Business District.'
Sue de Jong, Barfoot & Thompson Commercial