Silverdale property leased to popular pub

5:35 PM Tuesday April 10, 2018 Colin Taylor

The Northern Union Gastro pub at 1C, 23-25 Wainui Rd, Silverdale. Photo / Supplied

A purpose-designed local tavern, leased to a well-established tenant, is for sale in Silverdale north of Auckland - near the seaside town of Orewa. 

“The Northern Union Gastro pub has become a popular gathering place in this fast-growing suburban area,” says Elaine Tutty of Barfoot & Thompson Commercial who, with colleague Bruce Jiao, is marketing for sale 1C, 23-25 Wainui Rd, Silverdale. 

The property will be sold by auction at 12pm on Thursday May 3 at the agency’s North Shore branch office on the ground floor of 129 Hurstmere Rd, Takapuna - unless it sells earlier.  

“This is a unit-titled property of about 206sq m plus outdoor areas on a high-profile intersection in the heart of Silverdale,” says Tutty. “It has a long lease in place to Silverdale Pubs Ltd - a very experienced and proven operator.” 

The property earns annual rent of $123,873 plus GST and outgoings from the lease which is for an initial term of 10 years with two five-year rights of renewal and a mix of market and Consumer Price Index rent reviews.

The stratum in freehold commercial unit, occupied by the pub, is one of 15 contained within a larger development at 23-25 Wainui Rd and is designated 23C Wainui Road - Principal Unit 1C and Accessory Unit 34 with a 1/2 share of Accessory Unit 40. Accessory Unit 34 encompasses about 200sq m of decking and an outdoor area. 

A communal car parking area serves the larger parent business site of 4430sq m strategically situated on a roundabout intersecting Silverdale St and Wainui Rd.

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The tenant has invested in quality internal fit-out that resonates a warm atmosphere. Photo / Supplied

“This is a modern pub that operates on strong core values of providing excellent food and a variety of drinks,” Tutty says. “The owners are all about creating memorable customer experiences that make for good times.”

She says The Northern Union has been trading for almost four years and has become a popular local meeting place due to its family-friendly environment and a great menu.

“The operators have also embraced the craft beer revolution so their beer and wine list is extensive.”

Jiao says the building was constructed around 2013 of reinforced concrete slab floor, steel and timber framing, commercial grade aluminium framed joinery, precast concrete panelling with painted galvanised flashings, and a long-run profile metal roof. 

“The property was purpose-built to be a tavern with involvement from the current tenant,” he says. 

Jiao says Silverdale Pubs Ltd invested heavily in a quality internal fit-out which features a lot of natural timber that resonates a warm, inviting and comfortable atmosphere. The fit-out is owned by the tenant. 

“The architect designed the outdoor areas to have direct access from the bar and dining room. Half of the business area is dedicated to outdoor area dining and drinking with an excellent indoor-outdoor flow resulting in an attractive venue.”

The property is zoned Business - Town Centre Zone – Silverdale. The zoning is applied to suburban centres throughout Auckland, including the satellite centres of Warkworth, Wellsford, Pukekohe and Helensville. 

Jiao says the centres are typically located on main arterial roads with good public transport access. “The zone provides for a wide range of activities including commercial, leisure, residential, tourist, cultural, community and civic services, with a focus on commercial activities, potential for growth and intensification.”