BNZ the tenant in Henderson

3:30 PM Tuesday May 2, 2017 True Commercial

The 808sq m site at 373 Great North Rd contains a 914sq m two-level building, plus basement car parking and storage. Photo / Supplied

A prominent corner site occupied by the BNZ is for sale in the heart of Henderson’s commercial precinct.

It accommodates the BNZ’s main central Henderson retail branch as well as a BNZ Partners Centre offering business and commercial banking facilities for West Auckland.

The property, which will offer the next owner annual net rental income of $219,360 net and opex, is being marketed by Bayleys West Auckland manager Mike Adams in conjunction with Laurie Burt, Bayleys North Shore Commercial.

It is among a number of strongly located retail offerings that will go under the hammer at Bayleys’ next Total Property portfolio auction on May 17, unless sold prior to that date.

“The property is in the centre of Henderson’s business precinct and would be one of the most high profile corner commercial sites in West Auckland,” says Adams. re “It has substantial frontage to main arterial Great North Rd and to Ratanui St, another busy central Henderson road.”

Burt says the BNZ has been a long-established occupant of the property with its current 12-year lease running until December 2020 plus two further three-year rights of renewal. The lease has three-yearly rent reviews with the next review due December 1 this year.

Burt says the building underwent a significant seismic upgrade approximately five years ago to satisfy the bank’s requirements. “One of the property’s big attractions for tenants like the BNZ, with a large client base, is the fact that it is surrounded by plenty of public car parking.

There are public car parks to the side and rear of the property and eight secure car parks in the basement which are accessed via a right of way through one of the public car parks.”

Above the basement, which has 59sq m of storage as well as car parking, is 708sq m of ground floor customer banking facilities, offices and amenities. There is a further 206sq m of first floor offices and amenities.

“The property is well positioned within the Henderson retail and commercial precinct, and is close to a number of amenities in addition to public car parking,” says Adams. “These include Westfield’s WestCity Mall plus other retail outlets, the Waitakere Central Library and the train and bus station.

“This is an outstanding passive investment opportunity based around its solid tenancy profile. However, longer-term, the site also has obvious redevelopment potential given its very strong location and prominent corner positioning.”

The rectangular site is zoned Business Metropolitan Centre under the Auckland Unitary Plan. The zone provides for a wide range of activities including commercial, leisure, high density residential, tourist, community and civic services.