Approaching the midpoint of 2023, this is clearly a time of transition for Auckland’s real estate market, but also an opportune moment for strategic positioning, according to John Urlich, commercial manager of Barfoot & Thompson.
In his foreword to the company’s latest Insite portfolio, Urlich says: “Those investors who are seeking to make direct investment in property will find the market significantly less competitive than it has been in recent years. The prospects for cashflow and rental growth, however, remain strong.
“We believe we will see little downward pressure on rents for well-maintained, quality properties. We see only upside in the industrial sector, and both the office and retail sectors are consistent at present while weathering the economic correction.
“It always pays to remember that the fundamentals of continued low supply of land, labour and building materials, that are unique to Auckland, will make commercial property one of the most strategic requirements for any business going forward.”
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Around 30 commercial properties are showcased in Barfoot & Thompson’s May 2023 edition of Insite, from the Auckland CBD to the South Island.
They include three properties for tender, one for auction, one for sale by deadline private treaty, one for lease, 20 for sale by negotiation and four properties with an asking price.
One of the highlights is a substantial commercial property at 4001-4007 Great North Rd, Kelston, comprising a block of seven shops that are fully leased and returning a net income of approximately $154,000 plus GST annually.
Marketed by Colin Stewart and Roger Faithfull of Barfoot & Thompson Commercial, this freehold asset covering a land area of 1351sq m, is being offered for sale by negotiation.
Stewart emphasises the property's appeal, saying, “With a well-diversified rent roll from seven different tenants, prime positioning and significant future development potential, this is an exciting prospect for add-value investors and developers alike.
“The property is on a prominent corner site that benefits from dual road frontages to busy Great North Rd and Archibald Rd with extremely high visibility, easy access and ample carparking, including 11 parks on-site. The convenience is all there, as is the foot traffic, with Kelston Girls’ College sitting directly opposite and Kelston Mall Shopping Centre only 180m away.
“Zoned Business—Neighbourhood Centre, the possibilities are considerable, with the potential to maximise returns and explore further development options.”
In the rapidly developing northern Auckland corridor is a large 5.955ha property at 2104 East Coast Rd, Silverdale.
This freehold asset is being marketed by Paul Vermaak and Bruce Jiao from Barfoot & Thompson Commercial and is for sale by tender closing at 4pm, Thursday June 8 unless sold prior.
Vermaak describes the property as a “real gem”, featuring three leases currently generating net income of around $435,000 a year. “The three leases include a purpose-built childcare centre and a house near the eastern side of the property, with the remainder being taken up by an adventure park, boasting a luge, café/restaurant, ticket sales office, zipline, bungee, 3D cinema spaceship and further entertainment features.
“Zoned Business—General Business under the Auckland Unitary Plan, the property benefits from close proximity to the Silverdale shopping and business hub, as well as major arterial routes.”
At the top of the South Island, in a region known globally for its exceptional viticulture, is Peppertree Luxury Lodge. Located at 3284 SH1, Riverlands, Blenheim, the property is marketed by Allen Beagley of Barfoot & Thompson Commercial.
The freehold property consists of 4.2864ha of prime land with an Edwardian-style luxury lodge, a vineyard, an olive grove, quality grazing and various outbuildings.
Beagley says the lodge itself covers 526.5sq m over two levels, including the verandas, decks and balcony. “It was built back in 1901,” he says, “but has been immaculately restored to exude a 5-star luxury ambience. Other improvements include garage/storage sheds, a worker’s cottage, tractor port, gymnasium and pool shed.
“This is a rare opportunity for an investor and/or wine-lover seeking premium real estate in a prime position,” says Beagley.
“Situated in the highly sought-after Marlborough region, the property could not be better placed, just 20 minutes away from Blenheim and the airport.”
— Article supplied by Barfoot & Thompson
