A fully leased, multi-tenanted investment anchored by a distinctive character building has been brought to market in Kingsland. It offers investors secure income with long-term upside in an evolving city fringe precinct, Bayleys brokers say.
Bayleys Auckland Metro team’s Phil Haydock, Alan Haydock and Damien Bullick are marketing the property at 486 New North Road for sale by tender, closing at 4:00 pm on Tuesday, 14th April 2026 (unless sold prior).
The stand-alone building comprises 582sqm on a 384sqm (more or less) freehold site, generating a net annual income of $318,084 plus GST, underpinned by a diverse tenant mix and a weighted average lease term (WALT) of approximately 5.5 years.
Originally constructed in 1915 as the Kingsland Theatre, the property has been seismically strengthened and refurbished to accommodate a range of modern commercial uses, while retaining its distinctive character.
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Bayleys Auckland Metro director, Phil Haydock, says the asset features an attractive mix of dependable income, intrinsic land value, and strong occupier appeal.
“Investors continue to prioritise split-risk income streams, particularly where those returns are supported by a diverse tenancy profile and staggered lease expires.
“This property delivers that income certainty, while also offering exposure to a tightly held city-fringe location where vacancy is consistently low, and tenant demand remains resilient.”
The building comprises five tenancies across multiple levels, including ground-floor retail, office and hospitality-style occupiers, alongside a lower-level showroom and a first-floor office tenancy.
Additional income is derived from a rooftop telecommunications installation and a large-format digital billboard positioned to capture visibility from Kingsland’s transport corridor.
Bayleys Auckland Metro senior director, Alan Haydock, says the combination of traditional tenancies and alternative income streams strengthens the overall investment profile.
“Income diversity is a key theme in the current market. Having revenue generated from both physical tenancies and passive infrastructure, such as telecommunications and digital media, provides an additional layer of resilience.
“The property features a well-balanced mix of tenants across retail, commercial, and showroom uses, with leases incorporating fixed and market rent reviews, providing built-in growth, while staggered lease expiries and a solid WALT reinforce the strength and durability of the cashflow.”
The property benefits from proximity to Kingsland Train Station, which will be significantly enhanced by the completion of the City Rail Network (CRL), improving connectivity across Auckland’s transport network.
Bayleys Auckland Metro director, Damien Bullick, says infrastructure investment and favourable planning provisions are reinforcing the long-term appeal of city-fringe assets.
“Kingsland continues to evolve as one of Auckland’s most vibrant fringe suburbs, underpinned by strong amenity, proximity to the CBD, and ongoing intensification enabled by Business – Local Centre zoning.
“Recognition on the global stage has further cemented its appeal, with Kingsland named among Time Out magazine’s ‘coolest neighbourhoods’, reflecting the area’s distinctive mix of hospitality, culture and community.”
With the CRL set to elevate accessibility further, and Eden Park continuing to expand its concert and major event programme alongside its role as the country’s premier sporting venue, the precinct is seeing increased foot traffic and sustained occupier demand.
“Assets within walking distance of key transport nodes and major event infrastructure are increasingly sought by investors, particularly as government-led intensification policies continue to concentrate along transport corridors.
“With Kingsland Station less than 200 metres away and Morningside Station within a one-kilometre radius, 486 New North Road is ideally positioned to benefit from that shift.
"Combined with secure cashflow and a well-balanced lease profile, it represents an investment grounded in income and aligned with Auckland’s future growth,” Bullick says.
- Supplied by Bayleys
