Panmure house has professional tenants

2:57 PM Friday September 1, 2017 True Commercial

A law firm and accountancy company operate from the 2 Kings Rd house. Photo / Supplied

Brokers say a property for sale in Panmure would provide an outstanding investment, either short or long-term.

Now tenanted by a lawyer and an accountant, 2 Kings Rd will be auctioned on September 13, unless sold earlier.

NAI Harcourts sales consultants Richard White and Peta Laery are selling the property.

Laery says with great visibility on a corner site, options for the property are numerous.

“The eventual buyer could continue as a tenanted investment, own-and-occupy all or part, or redevelop to take advantage of the Residential Terrace Housing and Apartment Buildings zoning.”

Laery notes that Panmure is a welcoming and busy neighbourhood, located between two landmarks — the Panmure Basin and Mt Wellington.

The freehold property is situated at the corner of Kings and Tripoli Rds, at the end of a shopping strip and just 10 minutes’ walk from the Panmure Train Station.

It is an area earmarked for much growth, and is favoured by the Auckland Manukau Eastern Transport Initiative (AMETI), which is improving public transport links from Howick, Pakuranga and Botany to the CBD.

White says future changes will also underwrite this area as a great place to live and work.

“While the offering is a perfect opportunity for development, the tenants have advised Laery and White they are willing to negotiate new terms when their tenancy ends on September 30, 2018,” says Laery .

The tenants are Bruce Del Law and Sawden Tax & Accounting, together paying annual rent of $66,625 net.

The building itself is a two-level 509sq m commercial office building from the 1970s.

There are 10 carparks available and plus the convenience of a public carpark on the opposite side of Kings Road.

Under the Unitary Plan, the property is zoned Residential — Terrace Housing and Apartment Buildings, with a maximum height allowance of 16m.

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