"It’s a superbly located premise built in the 1970s," says James Marshall of Barfoot & Thompson Commercial who, with colleague Murray Tomlinson, is marketing 18 Birmingham Rd, for sale by auction at 10 am on Thursday May 25 at the agency’s Shortland St office.
The property is leased to Bendon Retail Limited for $53,857 per annum net plus GST and outgoings on a two-year term commencing February 14 last year with a two-year renewal taking the final expiry date to February 13, 2020.
"Standalone, freehold, investment properties in a good location like this, that can be classed as 'entry level' opportunities for new commercial property investors, are very hard to find. Whether the purchaser elects to 'put this in the bottom drawer' as a relatively hands-free investment property, or seeks to add value, or looks for longer term tenant occupancy, this property promises to reward the owner."
Features
Comprising a mid-stud height warehouse of 602sq m with internal partitioning also creating a showroom, it profits from a strategic flat freehold 1143sq m corner site with full vehicle access. The building’s overall construction is of concrete foundations and floor, with concrete block walls, steel portals, steel portals and long-run steel roofing.
Tomlinson says the showroom created within the warehouse is a simple structure comprising timber framing with gib/particle board walls and a suspended grid system ceiling.
"As is often the case, the owners’ needs are changing and all involved agree that it is timely to sell," he says.
"This is a wonderful, generic property. It has goods access from both the front and to the service lane at the rear. While it is configured for one tenant, it looks to have good potential to accommodate two tenants should the desire arise.
"In the meantime, Bendon will continue to benefit from its lease which is due for the final renewal period early next year."