Invest or redevelop - Plenty of options here!
49-55, Birkenhead Avenue, Birkenhead, Birkenhead, North Shore City
- Proposed Usage
- Floor Area
- 481.00 m²
- Land Area
- 802.00 m²
- Property ID
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Situated at 49-55 Birkenhead Ave in central Birkenhead, built by the current vendors family in 1965. After more than 50 years of ownership, the decision has been made to move on and the property is now for sale. This mixed use investment lies at the gateway to one of the North Shore’s more sought after retail and commercial suburbs. The freehold title of 802m² sits on the eastern side of Birkenhead Ave with magnificent views across the North Shore to the Waitemata Harbour and beyond to Rangitoto Island. The site drops away with the rear vacant portion of undeveloped land (approximately 430m²) adjoining Le Roys Bush Reserve.
Three levels of building with a total floor area of 481m² is made up from 6 separate tenancies, two retail shops occupied by Tongue and Groove Café and the St Andrews Opportunity Shop are at street level plus a rear commercial office space and separate amenities. Two commercial tenancies housing the Birkenhead Avenue Dental Clinic, who have been practicing in this location for almost 5 decades and NZ Payroll Practitioners occupy the adjoining office on lower level one. The basement level storage unit has access from the rear right of way easement or via the rear external staircase.
Currently returning $112,070 pa net from 5 separate tenants there are various lease terms available which allow any new owner the opportunity to renew, re-negotiate and add value whilst receiving an attractive holding income. This is a fantastic opportunity to acquire a desirable piece of real estate in a popular and affluent North Shore location.
Auction to be held at 11am on the 7th June 2017 at Colliers International, Level 1 129 Hurstmere Road, Takapuna, Auckland (unless sold prior).
Inspections are by appointment only so call the sole agents today for a full information pack or to arrange a viewing.