Avondale land and homes housing a wide range of tenants — from an engraving and trophy retailing business through to a dressmaker fixtures lease company — have been located on the market for sale.
The belongings, at nine St Jude St, include two homes on 1104sq m of freehold land zoned business mixed use under the Auckland Council plan.
It is being marketed at auction at 11 am on April 10 via Layne Harwood and Kate Kirby of Bayleys.
Both buildings were built in the mid-1960s.
At the street, the front of the assets is a two-storey concrete block shape the beginning designed for 104sq m of showroom area at the lower level with 140sq m of office space above.
The building at the rear has open-plan warehouse and production areas blended into 360sq m, with 36sq m of basement storage. It is built of wooden and steel truss framing between concrete block walls.
A nook of the roof area at the front construction is leased to cellular phone operator Two Degrees for hosting one of its network repeater masts. The property has on-website online vehicle parking for 12 tenants’ automobiles, with extra consumer parking right away in front of the property, on St Jude St.
The Commercial Four tenancy schedule for the property combines to create an annual rental of $102,487 plus GST, and includes:
● Corporate and characteristic furniture rent organization Arkade occupying the rear building on a hire running via till 2021, with one further 3-12 months right of renewal, paying annual rent of $56,seven-hundred plus GST;
● Specialist engraving and trophy retailing business Milestones occupying the retail portion of the front building on a hire running through until 2022, with one further two-year period of renewal, paying annual rental of $22,000 plus GST;
● The places of work of administrative help employer Sysint Solutions occupying the upper level of the front constructing on a rent going for walks through till 2021, paying annual condo of $15,840 plus GST; and
● Telecommunications organisation Two Degrees on a six-year lease running through to the end of this 12 months, with 3 further six-year rights of renewal, paying an annual condominium of $6948 plus GST.
Harwood says it caters to more than a few client sorts — together with the ones requiring an easy industrial investment, with tenants in place and offering the opportunity to comfy longer-term tenancies via refurbishment as space becomes to be had.
“Alternatively, an owner-occupier may want to take part of the property in due path, while a developer may want to plan for a mid-term improvement option for the final touch of a mixed-use industrial and residential constructing over four tiers,” Harwood says.
Auckland Council’s Business — Mixed Use zoning allows for the construction of buildings as much as 21m high.
“Each of the four tenancies operates independently of the others — ensuring a vast profile for any capability buyers looking at the belongings via an investment lens,” Harwood says.
“Within that configuration, there is a possibility to increase the performance of the office space component in the future.”
