A prime retail opportunity has come on the market in the bustling Burswood shopping and commercial precinct in Auckland’s eastern suburbs.
Dave Lane of NAI Harcourts is taking Shop 3, 290 Ti Rakau Drive, to auction on Thursday August 24 at Harcourts Takapuna unless sold prior (livestream bidding available).
Lane says a new owner could have a reasonable holding income while planning their eventual move, as they could buy the shop now and negotiate an arrangement to move in when the tenant vacates in October 2024.
He says with approximately 151sq m of prime retail frontage on Ti Rakau Drive, and located along a high traffic highway, this property is in a highly visible and easy to find location. “Establish your business presence and invite your customers inside. There are no parking problems with 45 common spaces right outside your front door.
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“The Burswood area is known for its lively atmosphere and is home to a wide range of businesses, including retail stores, restaurants, cafes, offices, and service providers in the surrounding areas. This diversity contributes to a vibrant and thriving local economy.
“It is an established area and yet there is significant residential growth taking place in the nearby surrounding suburbs which can only bring good business to the subject property.”
Lane says the shop has been leased for the past 17 years to Pork and Poultry. “The success of this small business shows the potential for a new business to thrive and become the next favourite destination for locals in the area.”
Constructed in 1994, with a capital value of $1.25 million, the property offers concrete floors and full-height concrete tilt-slab intertenancy walls. There is a mixture of plasterboard on the facia and glass to the front and aluminium joinery, concrete tilt-slab rear walls and steel roofing.
Lane says the space would be highly suitable for any food outlet, such as a superette, bakery, or other food stores.
The lease will expire on October 31. The annual rent is currently $57,937.50, and there is potential for property value appreciation.
The location benefits from excellent transport links. Ti Rakau Drive is a major road in the area and ensures easy accessibility for both commuters and customers arriving by car. Public transport options are also available.
The property is in a Business-Light Industry zone only 6.3km from the motorway.
— Supplied by NAI Harcourts
