Blockhouse Bay property has low site coverage
A freehold property in two titles housing a cafe and an automotive workshop is for sale in the west Auckland suburb of Blockhouse Bay on the shore of Manukau Harbour.
“Offered to the market with short term lease profiles, this property presents an opportunity for investors, owner-occupiers and developers,” says Nick Brown of Barfoot & Thompson Commercial who, with colleague Chris Peterson, is marketing 568-570 Blockhouse Bay Rd for sale by deadline private treaty closing at 4.30pm on Wednesday, July 25, unless the property sells earlier.
The two single-level buildings house the popular The Block Cafe leasing 200sq m space; and the automotive workshop occupying 185sq m.
“The buildings only cover 35 per cent of the 1111sq m site with the remaining land used as yard and carparking for the automotive workshop,” Brown says. “The cafe uses about 300sq m of the site and the automotive workshop, which will be sold with vacant possession, about 800sq m.”
“The cafe’s lease is for three three-year terms from April 2, 2012, with the third renewal having been exercised on April 2 this year and a current expiry of April 1, 2021. The current annual rent is $50,000 plus operating expenses and GST.”
Brown says the front of the property has a frontage to Blockhouse Bay Rd of about 23m.
The popular local The Block Cafe leases about 300sq of the site paying annual rent
of $50,000. Photo / Supplied
Peterson says the property has a Business - Local Centre Zoning permitting a broad range of uses and a total building height of 18m.
“It’s located in the heart of the well-established town centre, surrounded by amenities like local medical centres, dental clinic, pharmacy, a Countdown supermarket, library, Gittos Domain, Blockhouse Bay primary school, hair salon and banks.
“This is a tightly-held location in which there are limited opportunities to purchase properties of this nature.”
Peterson says the Business - Local Centre Zone applies to a number of small to medium centres throughout Auckland in locations usually served by good public transport.
“The zone primarily provides for the convenience needs of surrounding residential areas, including retail, commercial services, offices, food and beverage, and appropriately scaled supermarkets.
It typically enables buildings up to four storeys high, enabling residential use at the upper floors.”
He says Blockhouse Bay is a relaxed residential suburb about 11km southwest of the Auckland CBD.
“Ryman Healthcare's proposed new retirement village will be just 1.5km to the east in Lynfield and the property is just 3km from LynnMall Shopping Centre, which has undergone substantial redevelopment in the last few years now providing a broad range of popular eating options.