A highly visible tenanted investment on a key arterial route in the East Auckland suburb of Flat Bush is being offered to the market for sale.
Located at Unit 1, 302 Te Irirangi Drive, Flat Bush, the property features 405sq m of net lettable area and is home to an established Indian restaurant.
The net annual rental income from the building is $216,000 plus GST and the property’s accessible location provides convenience for customers.
The current tenant’s lease runs through until 2032 and further rights of renewal lead to a final expiry on 31 December 2041. The lease agreement includes market reviews every two years.
Start your property search
Surrounded by supporting retail offerings and a service station, the property provides dedicated car parking as part of a broader commercial complex.
Flat Bush is a rapidly expanding suburb and offers connectivity to Ormiston Town Centre and the Botany shopping village, both reachable in under 10 minutes.
Further afield, the East Tāmaki and Highbrook industrial precincts underpin the economic strength of the wider area. The nearby Highbrook interchange offers motorway access.
The property is zoned Business – Mixed Use Zone under the Auckland Unitary Plan.
Colliers has been exclusively appointed by the mortgagee to market the property for sale via deadline private treaty closing at 4pm on Tuesday 31 March. Buyers are encouraged to complete their own due diligence regarding the property.
Logan Roach, Investment Sales Broker at Colliers, says this property offers prospective purchasers the opportunity to acquire an appealing passive investment.
“Flat Bush as a commercial precinct is tightly held and purchasing opportunities like this are seldom found on the open market. The property will provide the new owner with a steady rental stream, and the existing tenant is well entrenched in this busy spot. Future market reviews also provide potential rental growth,” Roach says.
“The property benefits from its excellent street exposure on one of the busiest roads in East Auckland that has a considerable number of daily vehicle movements. Te Irirangi Drive links Botany, Ormiston, and Manukau to Flat Bush.”
Flat Bush has been one of Auckland’s fastest-growing areas across the past 10 years. Data from Infometrics notes a population increase of 6.7 per cent between 2015 and 2025 with an additional 26,640 residents moving to the suburb.
This growth has created a heightened need for commercial, medical, and retail services, and the area continues to experience ongoing development to meet this demand.
Ryan Gibb, Investment Sales Broker at Colliers, says the population growth of Flat Bush and the surrounding suburbs has contributed to the expansion of the wider East Auckland area.
“Ormiston Town Centre, which is home to an array of well-known retail brands, is a five-minute drive from the subject property, while the area also has access to public transport links,” Gibb says.
“This asset offers buyers the chance to secure a tenanted investment with desirable fundamentals.”
- Supplied by Colliers
