Royal Oak and Henderson shops for sale
This Oporto retail outlet is for sale in Lincoln Rd.
Three retail shops in two high profile Auckland locations - Lincoln Rd, Henderson and in the Royal Oak Shopping Mall - are for sale as part of Bayleys’ latest Total Property commercial and industrial portfolio.
The three buildings are being marketed through Bayleys Auckland Central salespeople Matt Lee, James Chan, Quinn Ngo and Owen Ding; and will be sold by auction on October 22.
The first is a new shop leased to fast food franchise Oporto that specialises in fresh, grilled chicken, burgers, wraps and rolls. Oporto has 11 stores nationally with plans to double in the next three years.
The 150 sq m property, designated Unit Four, is for sale within a new retail complex at 151 Lincoln Rd, west Auckland, on the busy corner of Lincoln Road and Moselle Avenue and is the final unit available.
Other outlets in the complex are leased by Pita Pit, Bruce Lee Sushi, Sal’s Pizza and a childcare centre.
Oporto pays a net rental of $55,000 a year on an eight year lease with two six-year rights of renewal, with a final expiry date of 2034.
“This is an opportunity for a smart investor to secure a retail investment in a well-performing and sought-after precinct, with a large customer base,” Lee says.
“Lincoln Road is one of the busiest roads in the country, carrying more the 46,000 cars a day. This coupled with the high profile corner, ensures maximum exposure for the property, and is why the quality brands have been secured for the precinct,” he says
The building sits on the Lincoln Rd boundary with a car park situated at the rear and access to the car park off Moselle Avenue.
“The new Western Ring route is due to open in 2017, providing a much-needed second motorway corridor through Auckland to the north and this traffic will pass the nearby Lincoln Road off-ramp. The development underpins progress in the area, supporting residential and commercial property growth,” Lee says.
Further to the east, a café, and a store which sells mobile phone accessories and undertakes technology repairs, are for sale in the Royal Oak Shopping Mall at 691 Manukau Rd near the intersection with Campbell Rd, Mt Smart Rd and Mt Albert Rd.
Units E and R are for sale separately or together have prime positions on either side of the main entrance to the shopping mall, which has more than 50 shops including Pak’nSave, Subway, ANZ Bank and McDonald’s. Open seven days a week, it is accessed from Manukau Rd and Mount Albert Rd, with 778 customer car parks.
Unit E of 56 sq m is tenanted by Extract Coffee and Juice, a café that provides high quality food and drinks. The tenant has a four year lease with a current expiry of 2017 and a net rental of $32,000.
Nearby unit R of 41 sq m is tenanted by Sinus Iridum, which sells mobile phone accessories and carries out mobile phone and computer repair services. It has a four year lease that has a current expiry of 2018 and provides a net rental income of $22,000.
Two retail shops for sale on either side of the entrance to Royal Oak Shopping Mall
“This mall is close to the intersection of four roads in the heart of the suburb of Royal Oak and services a large residential area and links Onehunga, Penrose and Greenlane,” Chan says.
“It is only 10 minutes from Auckland’s CBD and five minutes from the State Highway 1 north-south and the State Highway 16 western motorways.
“Given their location in the main mall atrium, these properties are in a key position that links shoppers to the main car park and Pak’nSave, and receive one of the highest levels of pedestrian exposure in the shopping mall.
Chan says the sale presents an opportunity to a buyer to secure well-located properties with tenancies already in place.
Bayleys says the retail spending of Kiwis remains high. “Recent figures from Paymark, which processes around 75 pe rcent of all electronic transactions in New Zealand, showed Kiwi shoppers swiped their cards almost 90 million times during the month of May. The figures represent an 8 per cent growth rate for the month compared to the previous year and indicate consumers have an increasing appetite when it comes to retail shopping. The hospitality sector was among the most active with a 14 per cent increase year-on-year.”