The freehold land and building housing a popular bakery have gone up for sale offering a rare “entry-level” investment in a key Auckland suburban town centre.
The two-level mixed-use property on busy New North Road is occupied by Boston Bakery, a trusted source of ready eats in Mt Albert village, on a new six-year lease.
The business has for over a decade served locals with fresh bread, breakfast and lunch offerings, cold drinks, and coffee.
Complete with an upstairs residence, the New North Road property is fully leased to the longstanding bakery tenant.
Start your property search
The tenant has recently signed a new six-year lease through to 2029 at a rental of $37,200 plus outgoings and GST
The property also boasts attractive future development potential thanks to its flexible, intensive zoning in an area identified by city planners for substantial growth.
The property at 914 New North Road, Mt Albert, Auckland, is being marketed for sale by James Were and Phil Haydock of Bayleys Auckland Central.
It will go under the hammer at an auction on Wednesday 7 December, unless sold prior.
Were said the approximately 114-square metre building sat on a fee simple site of some 128-square metres.
“The building comprises a ground-floor shop with commercial kitchen facilities behind, along with a two-bedroom residence above which is accessed via an internal stairway. One tandem car parking space is available at the rear of the site.
“The building’s position near the major intersection of arterials New North Road and Mt Albert Road, and right by Mt Albert train station, provides excellent profile and accessibility,” Were said.
New North Road is a major arterial route into Auckland’s central city, around 10 minutes’ drive from the bakery site. The Northwestern Motorway lies within a five-minute drive via Carrington Road.
Flexible and intensive Business – Town Centre zoning under Auckland’s unitary plan gives the site substantial future redevelopment potential for a variety of residential and commercial uses, with a maximum building height of 18-metres.
Haydock said the zone provided a focus for commercial activities in areas typically identified for growth and intensification.
“The site for sale is positioned right in the heart of Mt Albert village, which is home to a diverse mix of shops including cafes, restaurants, superettes, and salons.
"This makes it a popular retail destination that services a large residential catchment. There is also a large PAK'nSAVE supermarket a kilometre to the south.
“This area is destined for further intensification under the unitary plan, which supports projects such as the Government plans to build 4,000 homes on land acquired from Unitec’s Mt Albert campus, roughly 500-metres down the road.
“The property at 914 New North Road presents a rare opportunity for a small or new commercial property buyer to secure a stake in this strategic city-fringe location, in the form of an affordable entry-level investment with a long lease,” Haydock said.
- Article supplied by Bayleys
