An exceptional opportunity has emerged in one of Auckland’s fastest-growing commercial and residential hubs. Under receivership instructions, three adjoining mixed-use units in Flat Bush must be sold.
Units 3, 4 and 5, 302 Te Irirangi Drive is a substantial multi-income investment offering a compelling mix of income stability, future flexibility and growth potential.
Comprising 514sq m of prime retail space and 11 one-bedroom studio apartments above, this modern complex provides an estimated holding income of $323,000 plus GST a year, with projected earnings exceeding $400,000 plus GST annually.
The ground floor features a mix of established hospitality tenants alongside vacant space ready for occupation or further enhancement, while the upper-level studios currently operate as short-term accommodation, providing strong supplementary income and split-risk security.
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“This is a genuine receivership sale with clear instructions from the receivers — the property must be sold,” says Isaac Tankard of NAI Harcourts commercial sales and leasing division.
“The fundamentals are extremely strong — a mixed-use holding in one of Auckland’s most dynamic growth areas, with solid income in place and real add-value potential. It’s a rare opportunity to step into a high-yielding investment with clear upside.”
Strategically positioned along the high-profile Te Irirangi Drive corridor, the property enjoys significant daily exposure and excellent access to both Botany and Ormiston town centres.
The area’s rapid residential and commercial expansion has created a strong and growing customer base, supported by nearby amenities such as Ormiston Hospital, gyms, schools and public transport connections.
“Flat Bush continues to be one of Auckland’s fastest-expanding suburbs,” adds Tankard's colleague Nick Young.
“With major infrastructure and retail precincts on its doorstep, this location offers excellent long-term growth prospects.
"Investors and developers will immediately see the opportunity to complete and capitalise on the groundwork already done.”
Zoned Business – Mixed Use under the Auckland Unitary Plan, the site provides flexibility for a range of future uses, from commercial to residential intensification.
Constructed around 2001 with modern concrete and steel materials, the complex has recently undergone redevelopment to integrate hospitality and accommodation uses, creating a versatile and future-proofed investment.
The brokers say this is a rare receivership opportunity — a high-performing, split-risk asset in a premier East Auckland location, offering both current income and tangible upside.
- Supplied by NAI Harcourts
