A highly visible commercial property in central Takapuna on Auckland’s North Shore is being presented to the market for sale and will appeal to buyers of all kinds given its considerable future potential.
445 Lake Road, Takapuna has 2,426sq m of total net lettable area on a 3,386sq m freehold site that is spread across five titles.
The property is zoned Business – Metropolitan Centre Zone under the Auckland Unitary Plan.
Sitting on a prominent corner location, the building is available with vacant possession and offers scale and flexibility.
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The property also has approximately 50 on-site car parks that will deliver convenience for future occupiers or tenants.
Lake Road is one of Takapuna’s main arterial routes so the property benefits from strong traffic flow and excellent levels of exposure to passing vehicles.
Sitting approximately 15 minutes from Auckland CBD and near a collection of key North Shore amenities such as the hospital, Takapuna Tennis Club, shopping centres, and the Auckland University of Technology, this property is strategically located.
Colliers Directors Blair Peterken, Shoneet Chand, and Josh Coburn have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 26 November, unless sold prior.
Peterken, Director of Capital Markets at Colliers, says there are opportunities for all types of buyers given the multitude of options available.
“Owner-occupiers may view this as the right space for their firm’s operations and they would be able to utilise the functional property and not be bound to future lease agreements,” Peterken says.
“Investors could acquire the asset and lease it to a new tenant, while there is an array of development or repositioning angles to consider leading to likely interest among developers and add-value investors.”
Takapuna is easily accessed via the motorway network. A host of North Shore suburbs are also nearby, while Albany is reachable in under 15 minutes.
Chand, Director of Investment Sales at Colliers, says central Takapuna is a busy hub of activity with a range of attractive amenities that appeal to residents and workers.
“The recent revitalisation of the central shopping precinct has reimagined how Takapuna functions and beach access is only minutes away from the popular bars and cafes in the area,” Chand says.
“There is continued residential development in the works with further apartment complexes set to add more people into Takapuna that will drive demand for commercial services in the suburb.”
Coburn, Director of Site Sales and Capital Markets at Colliers, says a future development at the property could intensify the usage of the site and unlock its true value.
“As outlined in the Auckland Unitary Plan, the zoning provides for a wide range of activities, including commercial, leisure, high-density residential, tourist, cultural, community, and civic services,” Coburn says.
“This means there’s a range of ways the asset could be positioned and there are few comparable offerings in the market with this much add-value potential.”
- Supplied by Colliers
