A trophy property in the busy East Auckland suburb of Howick is being offered to the market for sale and gives prospective purchasers the opportunity to acquire a split-risk investment with a strong tenant covenant.
25-33 Picton Street, Howick has six well-established retail and office tenancies spread across 910sq m of net lettable space. The property is zoned Business – Town Centre Zone under the Auckland Unitary Plan and the landholding measures 539sq m.
This high-performing asset returns approximately $287,417 plus GST and operating expenses in net annual rental income.
The tenancies range in size from 64sq m to 363sq m. Of the current occupants, a majority have leases that run well into the 2030s if all rights of renewal are taken up.
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Howick village offers access to key arterial routes and public transport options, while the area experiences high volumes of foot traffic.
The village continues to evolve with streetscape upgrades, public space improvements, and a mix of boutique retail, hospitality, and essential services.
From the subject property, Panmure train station is approximately 8.7km away, while the motorway network is 10km away, providing further connectivity to other areas of Auckland.
Colliers Brokers Logan Roach and Ben Jamieson have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 14 May, unless sold prior.
The tenants at the property provide a diverse mix that includes Piggy Bar, Asian restaurant Daisy Chang, tax and financial consultancy Bramwell Consultants, boutique toy distributor Findlay Marketing, and the Howick Village Grocer, among others.
Roach, Investment Sales Broker at Colliers, says the strong tenant covenant, and the stature of the property within Howick, ensures continued appeal and reinforces this purchasing opportunity as one that will stand out to savvy investors.
“Buyers will be attracted to the steady rental stream that is underpinned by established tenants that have long-term lease agreements in place,” Roach says.
“All individual tenancies are popular local businesses that have CPI or market rent reviews in the future meaning there is potential built-in rental growth for the new owner.”
Positioned between major commercial centres like Botany Downs, Pakuranga, and East T?maki, and surrounded by affluent residential suburbs, Howick’s local village benefits from a strong and loyal customer base.
Its central location, walkable environment, and growing catchment continue to position it as a key destination for both locals and visitors in East Auckland.
Beyond the popular local shopping village, Howick offers eye-catching natural beauty with appealing beaches and scenic coastal walkways.
Jamieson, Associate Director of Investment Sales at Colliers, says properties within the Howick village are rarely traded.
“With limited new development opportunities within Howick’s tightly held village precinct, well-positioned retail properties are becoming increasingly sought-after,” Jamieson says.
“This scarcity of supply, combined with solid tenant demand, is expected to drive long-term value growth and capital appreciation for investors.
“Opportunities such as this one are seldom seen on the open market.”
- Supplied by Colliers
