Pioneer nightclub site for sale after 80 years
Exterior view of United Video on commercial site for sale at 935-941 Dominion Rd.
A property that once housed The Manhattan Lounge, one of Auckland’s first nightclubs and where Hollywood star Russell Crowe is thought to have played with his boy band, Russ le Roq and the Romantics, has been placed on the market for sale.
Located at 935-941 Dominion Rd, Mount Roskill, the property has since been turned into a large, city fringe retail block which is being marketed through Bayleys Auckland Central salespeople Mike Adams, William Coates and James Appleby who are selling it through a tender process closing on October 30.
Adams says the club was built in the 1960sand was the place where some of New Zealand’s top entertainers performed during the early days of their careers through until the 1990s. Among them were popular comedian Billy T James and singer Tom Sharplin.
“Before dating apps like Tinder were being thought about, the Manhattan Lounge was also known for its telephones where customers could ring each other from table to table in the name of old fashioned courtship,” Adams says.
After the club closed the site was turned into a retail location but The Manhattan Lounge has continued on – in name only – as part a function venue at the site, owned by catering company Dominion Food Ltd. The remaining tenants at the freehold property are Burger King and United Video.
Adams says the property has been owned by the same family for more than 80 years and they are now looking to move on so. “It has a government valuation of $5.6 million as at July 2011 but it is anticipated the sale price could exceed this,” he says.
“It’s strategic location and has multiple income streams with opportunities for development that are likely to attract a high level of interest from a diverse range of buyers including owner occupiers, developers, investors and community groups.
“This property is high visible with maximum exposure from three road frontages. Dominion Road is a main arterial route extending from Eden Terrace in the north through to Hillsborough in the south,” Adams says.
“The location is near a number of residential and commercial precincts with their varying amenities including Mt Eden, Epsom, Mt Roskill, Mt Albert, Hillsborough and Sandringham.”
The property is 1.4 km from State Highway 20, providing easy access to the airport and the main motorway systems which are about to be enhanced with extensions underway.
Adams says the location also has excellent public transport bus services to the Auckland CBD via Dominion Rd..
“It is is currently leased to three tenants and is returning a combined annual income of $397,000. Multinational tenant Burger King is in one building and is on a lease until 2022 with further rights of renewal. A second building housing United Video and Manhattan Lounge/Dominion Catering Ltd, provides further income and flexible leases.”
Burger King has a 10 year lease in place with an annual rent of $134,000 and a final expiry date of 2032.
United Video has a four-year lease of $143,000 annually, due to expire in 2016. The third tenant, Dominion Catering Ltd has a monthly rental of $10,000 and a notice period of 20 days.
Zoned Business 2 and Mixed Use under the Auckland Council Draft Unitary Plan, the land area of the site is 4759 sq m with redevelopment opportunities, Adams says.
“The zoning indicates traditional suburban retail centres.This property is within an area experiencing increased residential activity, coupled with a growth of a range of business and leisure activities, which is creating an interesting and diverse environment.”
View of Burger King on commercial site for sale at 935-941 Dominion Rd.