Retail sites in fast-growing Hobsonville

1:51 PM Tuesday July 19, 2016 True Commercial

Waterside Hobsonville Point is expected to become home to at least 11,000 people in the near future.

The sale of nine retail sites in Hobsonville Point’s Brickworks development will enable investors to claim rare commercial sites in the rapidly growing Auckland suburb, says Isaac Tankard, of NAI Harcourts North Shore Commercial.

The nine Brickworks retail parcels will be sold individually by auction on Wednesday  August 10 from 12pm at NAI Harcourts North Shore Commercial Auction Room, 128 Hurstmere Rd, Takapuna.

The picturesque water-side suburb is expected to become home to at least 11,000 people in the near future as schools and residential developments come on line, Tankard predicts.

“The Brickworks development, located in the heart of the suburb at 160 Hobsonville Point Rd, is perfectly positioned to capitalise on that growth.”

The building, which also houses 60 residential apartments over four levels with allocated parking, operates as the main local shopping centre for the up to 5000 homes being built in the surrounding Hobsonville Point area.

Tankard says it’s not just the scarcity of good commercial investment opportunities in Hobsonville Point that make Brickworks an outstanding opportunity.

“It’s also the variation of retail operations available”.

He lists spaces for sale at Brickworks, as follows:

• convenience store plus ATM

• nail and beauty salon

• dental practice

• pharmacy

• medical centre

• sushi takeaway

• café

• Indian restaurant

• pizza and burger takeaways

Tankard says the individual businesses currently operating on the site are drawing between $32,713 and $59,707 in rental income per annum, with all on a minimum three-year lease with varied rights of renewal. All outgoings are recoverable from each tenancy.

All bar two sites have dedicated carparks and the size of the available units ranges from 68.25sq m to 138.73sq m.

The site is currently zoned Special Area, and is scheduled for a Terrace Housing and Apartment Building zone in the Proposed Unitary Plan.

Four of the Brickworks retail sites front on to the main traffic thoroughfare of Hobsonville Point Rd while another four are located on De Havilland Rd, drawing the morning sun and overlooking a local park.

Andrew Bruce, also of NAI Harcourts North Shore Commercial, says the opportunity to buy reasonably priced commercial property in such a sought-after, rapidly expanding part of Auckland is rare.

“It’s a new, modern, well-built development on a main road that services not only the 60 apartments on site but the majority of houses and apartments in the Hobsonville Point area,” Bruce says.