Diversified North Shore Investment

49-55, Birkenhead Avenue, Birkenhead, North Shore City

Auction

Proposed Usage
Retail
Description:
Property ID
1bz6zks

- Returning $112,070pa + GST from five (5) separate tenants
- Town Centre Zoning (21m height) Auckland Unitary Plan (OP)
- Central Birkenhead location in close proximity to Auckland CBD
- Land area 802sqm (more or less)
- Floor area 481sqm (approximately)

After 50 proud years of ownership offered to the market by way of Auction, 49 - 55 Birkenhead Avenue represents a rare opportunity to purchase in the heart of this tightly held suburb.

One of the last true growth precincts of Auckland the new zoning overhaul by way of the Auckland Unitary Plan has laid the framework for Birkenhead to finally realise its full potential and take advantage of its location, character and spectacular view shafts. Local government investment including a new public library and Le Roy Bush outlook, along with intensive development on the adjacent Mokoia Road, the gentrification process is well under way.


The property itself offers various options currently representing a sound split risk investment leased to a mixture of hospitality, retail and office tenants providing an attractive income. Modest rental rates and flexible lease terms provides immediate upside within the current building envelope. Long term, excess land and access to the rear of the property means this site has real potential for a spectacular end product of mixed use development.

Forget 3% and 4% "development yields" this is a realistic vendor ready to meet the market. Instructions are clear this property is to be sold.

For sale by auction (unless sold prior)
11am, Wednesday 13th September 2017
Bayleys House, 30 Gaunt Street, Auckland Central

Enquire about this property

Birkenhead Area