A landmark commercial building in the heart of Pukekohe’s town centre is being offered to the market for the first time in 40 years, presenting investors with diversified income secured by long-standing tenants in one of Auckland’s fastest-growing southern corridors, Bayleys brokers say.
Bayleys South Auckland’s Shane Snijder, Mike Hook and Peter Migounoff are marketing the freehold property at 1-5 King Street for sale by auction scheduled for 3:00 pm on Tuesday, 14th April 2026 (unless sold prior).
The two-storey building occupies a 784sqm (more or less) site at the intersection of King and Queen Streets, within the Business – Town Centre zone. It provides approximately 650sqm of floor area and returning a net annual income of $191,522 plus GST from three established tenants, increasing to $220,015 plus GST from 1 October 2026.
Snijder says the property blends heritage character with prominent retail and hospitality in a location benefiting from significant population growth and infrastructure investment via Auckland’s southern corridor.
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“Pukekohe has evolved into a key satellite town for Auckland, with strong residential expansion and infrastructure upgrades bringing sustained population growth into the wider Franklin district.”
“That demographic momentum supports a vibrant town centre environment, which in turn underpins the long-term performance of well-located commercial investments.”
Known locally as the Perkins & Co building, the property is one of the oldest in the region, built in 1916. It operated as a general store and residence more than a century ago and remains one of the most recognisable buildings in Pukekohe’s CBD.
Today, the premises accommodate three long-standing tenants: high street fashion retailer Pagani, local hospitality institution Monarch Café, Bar and Restaurant, and Counties Bakery, providing diversified income across retail and hospitality sectors.
The Monarch Café occupies both the ground and first floors and has been a destination dining venue in the town for nearly three decades, while Pagani brings the strength of a well-known national brand to the street frontage.
“Split-risk investments with notable tenants are perennially sought-after by investors seeking income resilience,” Snijder says. “With three established occupiers and built-in rental growth across the leases, the property offers a stable income profile supported by tenants that are embedded within the local community.”
Rental growth is already programmed within the tenancy agreements, with total income scheduled to increase to $220,015 plus GST per annum from October 2026.
The property also benefits from 12 rear car parks, a valuable amenity in town centre environments where parking availability is increasingly limited.
Bayleys Pukekohe’s Mike Hook says commercial assets in prominent positions along Pukekohe’s primary retail strip remain tightly held, reflecting growing confidence in the town’s long-term trajectory.
“The wider Drury-Franklin corridor is experiencing one of the most significant growth phases ever observed in the Auckland region.”
“Major developments, including the Drury South Crossing master planned precinct, Kiwi Property’s proposed Drury Town Centre, and large-scale employment hubs such as Fisher & Paykel Healthcare’s planned campus, are transforming the area’s economic landscape, lifting its potential for investors.”
At the same time, major residential developments including Paerata Rise, Auranga, and Belmont Estate are delivering thousands of new homes, significantly expanding the catchment population supporting Pukekohe’s town centre.
“With strong population growth, expanding infrastructure and continued residential development across the southern corridor, well-located commercial property in established centres continues to attract investment,” Hook says.
“Significant assets, such as 1-5 King Street, provide the rewarding combination many investors are looking for today – secure income from established tenants, character premises with enduring appeal, and exposure to one of Auckland's fastest-growing regional centres.”
- Supplied by Bayleys
