A unique opportunity has emerged in Unsworth Heights on Auckland's North Shore withthe availability of a prime 90sq m retail space.
Currently occupied by a liquorstore, Shop 4, 1 Greenwich Way is strategically located adjacent to GreenwichGardens Retirement Village, providing a strong customer base from nearbyresidential apartments.
This versatile retail space, located in a vibrant communitythat promotes foot traffic and customer engagement, has been occupied by thesame liquor shop business for over 20 years.
The unit boasts a concrete floor, tilt-slab walls, long-runsteel roofing, and glass/aluminum-framed front windows and doors. At 90 sq m,it is suitable for a wide range of commercial uses.
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Dave Lane of NAI Harcourts is marketing the property via auction,set for November 14 unless sold prior.
“The property is available as a tenanted investment with twoyears remaining on the current lease. While short leases can pose risks forinvestors, this situation presents an attractive option for prospective buyersinterested in operating a liquor store should the current tenant choose not torenew,” Lane says.
The lease, assigned to Mr Kai Liquor Ltd in September 2018,has a four-year term with one four-year and two six-year renewal options and biennialrent reviews. The current rent stands at $31,000 net annually plus GST, with finalexpiry on 16 September 2042.
Customer parking is available on a sealed asphalt surface infront of the property, while the feature of no rear entry enhances the safetyof the premises. The front entry is ideal for retail operations, handling stockand transactions.
“This retail space provides an exceptional opportunity for aretail or service-based business, positioning it as a prime option for futuretenancy transitions,” Lane says.
Situated amid residential suburbs, this location offersseamless access to motorway connections, just a short drive from Albany Centraland approximately 15 minutes from Auckland’s CBD during off-peak hours.
-Supplied by NAI Harcourts
