Food and beverage premises for sale are high on the menu for property investors
A pair of suburban food and beverage premises located in busy light commercial and retail hubs on Auckland’s North Shore have been placed on the market for sale.
The two individual properties feature a stereotypical bakery and a Middle Eastern kebab premises. Both locations are being marketed for sale by Bayleys Real Estate as ‘investment grade’ opportunities - with just the land and buildings on offer in both instances.
The land and buildings housing a branch of the Hollywood Bakery franchise chain are for sale 65 – 71 Porana Road in Auckland’s Wairau Valley. The property is being marketed for sale by auction at 11am on October 24 through Bayleys North Shore. Salespeople Adam Curtis, Damian Stephen and Steven Liu said the bakery was part of a high-profile retail block overlooking an extensive customer car parking amenity.
Occupying some 133 square metres of space, the Hollywood Bakery is currently on a six-year lease running through to 2014 generation annual net rental of $55,000 plus GST and operating expenses per annum.
Mr Curtis said the bakery’s floor to ceiling windows enabled a generous flow of natural light into the property – which was frequented by both staff from nearby factories and retail outlets, and by shoppers visiting the retail neighbours. The Porana Road block containing the Hollywood bakery is zoned Light Industry under the Auckland Unitary Plan.
“The freehold premises is serviced by ample shared car parking immediately outside its front door, and has access to the installation of new signage on the floor above,” Mr Curtis said.
“While the ongoing evolution and disruption of the traditional retailing sector from increased e-commerce continues - both online and in physical outlets - food and beverage-tenanted investments, backed by proven brands such as Hollywood Bakery are becoming increasingly sought after.”
Nearby in the upper section of the Wairau Valley precinct, a second food and beverage premises is being marketed for sale. Unit 7 in the Wairau Junction block at 162 – 178 Wairau Road houses kebab and burger outlet Persia Kebabs.
Occupying some 45 square metres and overlooking the block’s sizeable customer car parking lot, Persia Kebabs is currently on a four-year lease running through to 2021 with a further four-year right of renewal, generating annual net rental of $30,600 plus GST and outgoings.
The property is being marketed for sale by auction at 11am on October 24 through Bayleys North Shore. Salespeople Andrew Lin and Ranjan Unka said unit the Wairau Junction shopping precinct was predominantly occupied by food and beverage orientated tenants.
“For example, neighbouring premises within Wairau Junction include the likes of Coffee Club, Pizza Hut, Nandos, and Pita Pitt. The array of food and beverage-focused tenancies ensures Wairau Junction is a magnet for workers in the immediate vicinity,” said Mr Lin.
“The surrounding neighbourhood consists of light industrial premises and multiple new and used car yards.
The corner site Wairau Junction has car parking for more than 150 vehicles and has multiple access points off both Wairau and View roads. The block is zoned Light Industry under the Auckland Unitary Plan.