High-profile entry-level commercial properties

7:04 PM Tuesday September 12, 2017 Colin Taylor

An artist’s impression of the three-storey commercial development at 251 King St, Pukekohe, in which eight units are for sale. Photo / Supplied

Eight new office or retail units are for sale in a three-storey commercial development, planned for a high-profile 1169sq m corner site in Pukekohe, south of Auckland - opening chances for first time commercial property investors to enter the market.

A second small property offering the same prospects is for sale adjoining Auckland’s Vinegar Lane development.

“These Pukekohe units present individuals and entry-level buyers with an opportunity to commence investing in the commercial property market at an affordable price,” says Jason Woodyard, commercial sales agent with Barfoot & Thompson in Pukekohe, who is marketing the unit-titled properties at 251 King St, Pukekohe, for sale at fixed prices.

“Resource and building consents have been obtained for the project with ownership titles due to be issued in November next year,” Woodyard says.

The property, which is zoned Business-Town Centre under the Auckland Unitary Plan, is on the western side of King St and the northern side of Massey Avenue at the busy intersection of King St, Massey Ave, Stadium Drive and Manukau Rd.

“This intersection is possibly the busiest in all of Pukekohe - placing the units for sale in a strategic position at one of the main gateway entries into the commercial area of Pukekohe,” says Woodyard.

“The property is close to all Pukekohe’s retail and service amenities with the train station just 500m away.

“All units will have street frontage profile with large windows providing good natural light and views. In addition, the ground floor will have an exceptional central lobby serviced by new stairs and a lift.”

Of the four ground units, which are ideal for retailers, the smallest of 76sq m is the cheapest unit on offer at $620,000 with the next smallest of 95sq m having an asking price of $775,000.

The other two street level units are: 113sq m selling for $925,000 and 118sq m at $965,000.

The second and third floors both comprise just two units on each level. Second and third floor units of 203sq m are for sale at $1,210,000 each; while bigger units of 231sq m on the same levels are the most expensive both respectively selling at $1,380,000.

The development includes 14 uncovered car parks which are for sale at $25,000 each. All prices are plus GST.

“In addition, for prospective clients and customers, there is angled parking along the King St frontage while a nearby Council carpark provides another benefit for the property,” Woodyard says.

Located 55km south of the Auckland CBD and 86km north of the Hamilton CBD, Pukekohe is the major service centre and residential precinct for the Franklin District and has quick access to the State Highway One motorway interchanges at both Drury and Bombay Hills.

The second entry-level property, is a vacant freehold lot of just 95sq m at 13 Vinegar Lane in Ponsonby.

“With a flexible Mixed Use zoning and resource consent for a 15m development already in place, this freehold land parcel is good to go,” says Grant Magill of Barfoot & Thompson Commercial who, with colleague Reese Barragar, is marketing the property for sale by deadline private treaty closing at 2pm on Wednesday October 4.

Magill says the land, currently used for car parking, is “in a location that’s hard to beat,” and would also suit developers and owner occupiers.

The site is on the eastern side of Vinegar Lane, which is located on the previously abandoned ‘Soho Square' -  once home to the DYC Vinegar factory. The site was purchased by Progressive Enterprises for a new supermarket with some land being surplus to requirements.

Vinegar Lane is on the western side of the northern end of Crummer Rd and northern side of Pollen St towards the Williamson Avenue end.

“Having a mixture of retail, office and residential properties in the immediate vicinity, the lot for sale has a frontage of five metres to Vinegar Lane and a depth of 19.07m with a level contour,” Magill says. “Being in Ponsonby, the site is close to numerous all the amenities including great cafes, restaurants, bars, art galleries, a supermarket and other stores – along with having good access to the Auckland CBD and the State Highway 1 and 16 motorways.”