Seven retail and hospitality business tenancies
A feature property is a big Ponsonby block on Auckland’s western city fringe which has been held by its family owners for many years. It encompasses seven retail and hospitality business tenancies with lease term expiries ranging from 2017 through to 2024.
"The property is held under four titles with a total freehold area of 1900 square metres," says broker Marie-Anne Molloy, who is marketing 244-246 & 250-252 Ponsonby Rd for sale by tender as one package closing at 4pm on Thursday, November 3 – unless sold earlier by negotiation.
"The attributes of the offering with its diverse and strong lease profile will be very attractive to a variety of purchasers including investors, developers and potential owner occupiers," Molloy says.
A variety of addresses comprising the block for sale are:
The property is on the block bounded by Ponsonby Rd, Summer St and O'Neill St with the land contour falling very slightly from the Ponsonby Rd frontage of 61.49m to the west where the rear boundary abuts residential land. The depth to Summer St and O'Neill St is 34.48m and 28.34m respectively. A variety of addresses comprising the block for sale are:
- 242 Ponsonby Rd - an older type of warehouse built circa 1935 which has been converted into retailing on the road frontage and with a rear refurbished area. Construction generally consists of plastered brick exterior walls, wooden trusses, solid plastered linings, timber flooring, corrugated iron roofing and a glass front facade.
The front southern portion of the building with a net floor area of 159.11sq m is occupied by Totos Pizza. It generally comprises open space throughout having a frontage to Ponsonby Rd of 5.43m by depth of 13m which then opens out to a width of 10.21m and a depth of 9.53m.
The front northern portion of the building is occupied by a Thai restaurant leasing an area of 80.75sq m which is irregular in shape. It has a main frontage of 4.62m by depth of 12.74m and is also on an irregular shaped site area.
Beyond this area is a rear character refurbished tenancy totalling 126.11sq m and occupied by Little Bird Unbakery leasing 116.34sq m plus a mezzanine storage area of 9.77sq m.
- 252 Ponsonby Rd – a vacant land area of about 167sq m occupied by the Ponsonby Plant Centre with four open car spaces provided at the rear of the centre.
- 246-248 Ponsonby Rd - a rectangular shaped retail building built circa 1960 and more recently subdivided into two retailing tenancies containing the Emkay Trading liquor store on the southern side leasing 75sq m and the Food Room Cafe on the northern side occupying 79.59sq m. Both tenancies are generally open space throughout with the exception of rear toilet rooms.
A large car park is located in front of the building accommodating 14 cars on asphalt seal. "This is of considerable benefit on Ponsonby Rd where car parking is at a premium," Molloy says.
- 250-252 Ponsonby Rd – a modern retail building built in 2011 with a net floor area of 278sq m and occupied by Pumpkin Patch Ponsonby Rd. Construction mainly consists of concrete flooring, steel beam framing, weatherboard exterior walls, glass front facade, galvanised iron roofing, netting and sisilation. The building is generally open retailing space throughout with the exception of a rear toilet room.
The property is of rectangular shape with site plans indicating the longest retail frontage to Ponsonby Rd of 60m.
Molloy says the block for sale is situated within the popular commercial strip of Ponsonby Rd and is surrounded by a mix of converted villas, apartments, offices, boutique retail outlets, cafes and restaurants.