Barfoot & Thompson continues to showcase its recentlyreleased Insite portfolio, with commercial manager John Urlich reiterating thatdespite two years of unpredictability, “genuinely good opportunities exist inthis sector for astute players”.
One of the standout properties in this release is a fullyoperational hotel boasting 82 rooms over eight levels, with car parking and anexcellent outlook just 50m from Queen St.
3 Scotia Place, Auckland Central, is being marketed byBarfoot & Thompson Commercial broker Wayne Muir, and is offered for sale bydeadline private treaty closing 4pm, Thursday 26 May unless sold prior.
“As the Covid world opens up,” says Muir, “this is a greatopportunity for investors to secure a turnkey asset in the heart of the CBD –immaculately timed to take full advantage of the upswing in international travellersinto New Zealand, as well as potential overseas students returning and internaltravel.”
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The building dates from 1986. It has an A+ seismic rating aswell as being fully refurbished from original, with Muir stipulating that itwill be sold as a vacant freehold including chattels, allowing an operator animmediate start.
“No need to get bogged down with consenting and effecting anew build, as this is ready to go,” he says. “It’s an exceptional holding in aprime location — and with city bus services almost at the door on Queen St,access to all points and motorways is easy. The potential here is first-rate.”
Another highlight of the portfolio can be found at 3 ParityPlace, Wairau Valley, which is a rare freehold commercial property in the heartof one of Auckland’s most popular industrial zones.
“Opportunity abounds with this one,” says Simon Farland ofBarfoot & Thompson North Shore Commercial who, with colleague JohnStringer, is marketing the property for sale by deadline private treaty closing4pm Thursday 26 May unless it sells earlier.
This is the first time the unit has been on the market sinceit was constructed over 40 years ago.
“It’s a solid two-level office/warehouse building set onapproximately 890sq m of land,” says Farland, “with 10 car parks and easydrive-around access, enjoying a prominent road-front position by the bustlingintersection of Porana and Sunnybrae roads.
“Historically this asset has enjoyed stable occupiersbenefiting from the flexibility of building design as well as locationalattributes,” he says.
“The existing occupier has taken great care with the currentconfiguration, which has seen the high-stud warehouse and first-floor mezzanineprofessionally remodelled into 11 studio rooms, seven downstairs and fourupstairs, along with a reception and bar area downstairs.
“However there is a full reinstatement clause in the lease,and the original design presents as a prime industrial unit in a highlysought-after industrial area.”
The building is fully consented, has recently undergone aroof replacement, and is leased until 28 February next year with no furtherrights of renewal. It is currently returning $49,329.33 net a year + GST.
“Zoned Business-Light Industry, the options are boundless,”Farland says.
Just a hop away in prestigious Takapuna is another rareinvestment opportunity.
This comprises three separate multi-tenanted officebuildings on three separate adjoining titles. “So you can buy one or get thelot,” says Bruce Jiao of Barfoot & Thompson North Shore Commercial.
Jiao is marketing 3, 5 and 7 Anzac St, Takapuna, withcolleagues Gary Seekup and Paul Vermaak, for sale by tender closing 4pm Monday23 May unless sold prior.
“While these properties are available separately, thelocation is calling out for a trophy development,” Seekup says.
“Takapuna is one ofthe city’s most vibrant seaside destinations, encompassing the best ofeverything. And this particular position, just a stone’s throw from the beach,is truly outstanding.”
“The recent rezoning of this area to Business-MetropolitanCentre under the Auckland Unitary Plan allows for significant housing andbusiness intensification in the area, and provides the bones for future growthand economic advancement.
“An architectural layout plan has been prepared for thecombined 2422sq m site which accommodates a basement car park, commercial andservice use on the ground level, and 129 apartments over 10 levels,” saysSeekup. “There is immense possibility here.”
— Article supplied by Barfoot & Thompson
