A split risk investment in Auckland's Blockhouse Bay is being marketed for sale.
The property at 557-561 Blockhouse Bay Road encompasses a single level building in good condition split into two shops with a total floor area of around 240sqm. Both shops have established tenancies in place.
JLL agents Jaye Miller and Kevin Reardon are marketing 557-561 Blockhouse Bay Road for sale by expressions of interest, closing April 2.
“The property is located right by the local school and Countdown supermarket, in what is a popular and growing area and this is well-recognised as the area is tightly held,” says Miller.
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“This building is a perfect example of that as this is the first time it’s been on the market in more than 30 years.”
Reardon says the property presents a fantastic opportunity for entry-level investors to get their foot on the commercial property ladder.
“Blockhouse Bay continues to show itself as a growing commercial /residential area and with the recent water view tunnel, road improvements and population growth in Auckland city, it is proving to be well connected to the city itself,” says Reardon.
“It’s a reliable investment with a secure cash flow, and the Business Town Centre zoning provides for a wide range of future investment including commercial, leisure, residential, tourist, cultural, community and civic services, providing a focus for commercial activities and growth.”
The premises’ two shops are both tenanted on long leases, one to a printing company, and the other to Shirley’s of Blockhouse Bay, a stalwart of the area. The well-established area has destination shops in the immediate vicinity meaning foot traffic and vehicle traffic counts are also high.
Both shops enjoy floor to ceiling windows facing the road allowing a great amount of natural light whilst getting full usage of the road frontage.
The property will be sold through an Expressions of Interest campaign closing 2nd April 2020 (if not sold prior).
