Coming into the end of the year and hot off the back of last weekend's general election, Auckland’s real estate market continues to face challenges. However, it also presents investors with “a host of exciting add-value propositions,” according to John Urlich, commercial manager of Barfoot & Thompson.
Some excellent opportunities are put forward for investors, developers and owner-occupiers in the company’s latest issue of its Insite portfolio. It contains 37 commercial properties in total, from the north of Auckland through to the south.
Three properties are for tender, one for auction, 15 for sale by deadline private treaty and 15 for sale by negotiation.
One of the standouts is 48 Tongue Farm Rd, Matakana, which is currently home to Morris & James Pottery, and described by its brokers as a “one-of-a-kind freehold asset in a key growth location”.
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Sitting on a stunning 7.8272ha riverside land parcel, the landmark property is being marketed by Simon Farland and James Marshall from Barfoot & Thompson Commercial for sale by tender closing at 4pm, Wednesday 22 November, unless sold prior.
“This remarkable opportunity is not just a purchase - it’s a chance to become part of a timeless masterpiece,” says Farland.
“With a solid holding income as its foundation, you have the unique chance to own this enduring symbol of North Auckland’s landscape, whether preserving its legacy or envisaging a new chapter.”
Buildings onsite include the long-established pottery factory, studio and showroom, together with a café and three dwellings. T
Three commercial tenants currently return total net annual rental of approximately $193,100 plus GST.
Hope Cottage and the River Cottage are returning $40,300 a year inclusive as residential tenancies, while the main residence will be vacant and ready for owner-occupiers or tenants to move in.
Farland believes the character of the dwellings, combined with the surrounding infrastructure and sizable landholding, would appeal to a range of different buyers.
He’s also quick to mention location, with the property being “within easy walking distance to Matakana township, and in close proximity to all this region has to offer, including miles of unspoilt coastline, wineries, retail and food markets and a vibrant art scene.
"The region surrounding Warkworth and Matakana has become Auckland’s weekend destination of choice," Farland says, "and with the Unitary Plan allowing for greater density and the new Northern Motorway extension now open, this growth trend is showing no signs of slowing down.
"This bodes well for properties in strategic locations, like this one, offering significant opportunities in the future."
Another prime prospect is a comprehensive leasehold portfolio including buildings with a combined net lettable area of almost 25,000sq m on just over 5ha of land zoned for Light Industry use.
Being predominantly an industrial portfolio, there is a range in the age and condition of these buildings.
They serve a variety of purposes, including warehousing, manufacturing, showrooms, service retail and office spaces.
Being fully leased, with 30 assorted tenants contributing to a diversified income stream, “opens the opportunity for income growth throughout the lease terms” according to commercial sales and leasing broker, James Marshall.
“The portfolio is strategically diversified, offering a well-balanced income profile with distributed risk.
"The current rentals are fair market rates and this allows for the portfolio to be mostly fully occupied at all times.”
Marshall is marketing the portfolio with his colleague Nick Wilson of Barfoot & Thompson Commercial.
The properties include 2-8 Maurice Rd and 10 Maurice Rd in Penrose; 2-4 Morrin Rd, 6 Morrin Rd and 14 Fraser Rd in Mt Wellington; and 61-67 Felton Mathew Avenue in St Johns.
Each is for sale by deadline private treaty closing at noon, Wednesday October 25 unless sold prior.
- Article supplied by Barfoot & Thompson
