The site that has housed an iconic Browns Bay sports bar is poised for a major transformation as the bar moves on and the property goes up for sale with a heady brew of development options.
With The Brownzy bar now relocating, the prominent site at the corner of Beach and Bute roads is on offer to new owners, opening the way for a potential signature multi-storey redevelopment that adds to the suburb’s revitalisation.
Conveniently located within a short walk of the town centre and celebrated Browns Bay beach, the more than 5,000-square-metre property’s potential is maximised by flexible development-friendly zoning.
Bulk retail or fast-food outlets, age care facilities and apartment or terrace housing complexes are among the myriad of possibilities mooted by the Bayleys team marketing the sale.
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The Beach Road property currently generates a net rental return of $355,115 plus outgoings and GST per annum from leases to the bar and a Bottle-O liquor outlet. It will be available with vacant possession from the end of October.
The freehold land and buildings at 775 Beach Road, Browns Bay, Auckland, are being offered for sale through Ranjan Unka, Michael Nees and Peta Laery of Bayleys North Shore Commercial.
The property will be sold by deadline private treaty closing on Thursday 21 September, unless it is sold earlier.
Unka said the existing buildings of approximately 1,127 square metres were underpinned by some 5,011 square metres of flat freehold land, with plenty of on-site car parking.
Business – Mixed Use zoning under Auckland’s unitary plan supports development for wide-ranging uses with a maximum building height of 18 metres.
“New and exciting options for this former bar site are virtually on tap for developers and owner-occupiers,” Unka said.
“The large land area, standout corner profile, and desirable zoning present buyers with a myriad of possibilities to take this property to its highest and best use, and potentially create something extraordinary which could recapture the iconic status of this address.”
Nees said any development would benefit from the site’s two street frontages and dual access, along with the abundance of local amenities on its doorstep.
“The Beach Road property is handy to two major supermarkets, plentiful shops, and public transport options, as well as a lively hospitality hub with more than 60 restaurants, cafes and bars in the town centre.
“Browns Bay residents also have access to strong service offerings, including medical, dental, beauty and professional services,” said Nees.
Laery said the Browns Bay town centre and surrounding area had also spawned numerous successful apartment projects, such as The Victor, Kauri Residences and The Pines.
“In recent years, Browns Bay has undergone considerable rejuvenation as it reinvents itself with an influx of new service-based retailers and hospitality operators, as well as high-quality residential projects.
“Much of this has been driven by expansion of the suburb’s relatively affluent population which has now topped 10,000 and continues to grow,” Laery said.
- Article supplied by Bayleys
