The ground floor of the two-storey building for sale at 87A McLaughlins Road, is leased to Stonehill Hospitality Limited, trading as Forage Hill Café.
The tenant’s new eight-year lease over the 219-square metre café and courtyard, plus eight car parks, runs through to 2029 with two further two-year rights of renewal.
A vacant two-bedroom apartment upstairs with separate access offers buyers the option to add a second diversified income stream.
The McLaughlins Road property will return the buyer an annual net income of $67,180 plus outgoings and GST from the café tenancy – potentially rising to $95,780 plus outgoings and GST when the site is fully tenanted.
The café lease agreement incorporates fixed 2.5 percent annual rental increases plus a bank guarantee.
The property at 87A McLaughlins Road, Wiri, is now being marketed for sale by auction on Wednesday 15th September through Bayleys South Auckland and will not be sold prior to the auction.
Salespeople Mike Marinkovich, Janak Darji and Tony Chaudhary said the property consisted of a brand new building with a total lettable area of approximately 362 square metres on 644 square metres of freehold land.
“The modern, well-equipped café tenancy on the ground floor has a floor area of approximately 125 square metres plus a 93-square metre enclosed courtyard,” said Mr Marinkovich.
“The first-floor apartment is spacious at 125 square metres, with two bedrooms and two bathrooms, plus a 17-square metre covered deck.
“This dwelling has separate access and, being vacant, presents investors with options to rent it for additional income or to occupy it themselves.
“Potential rental from the apartment is estimated at $550 per week, or $28,600 per annum,” Mr Marinkovich said.
Mr Darji said the property was in an affordable price range and offered a new building on a fee simple title, a long lease term for the head tenancy with fixed rental growth, plus dual-tenancy options which should appeal to investors looking for a quality bottom-drawer investment.
“Wiri is one of South Auckland’s premier industrial precincts, with high-profile occupiers near the McLaughlins Road site including TIL Freighting, Placemakers, Plumbing World, and Super Freight.
Mr Chaudhary said the property for sale was positioned prominently at the entrance to the business park.
“With about 40 metres of road frontage, this is the first site you see when you enter the park.
“The property is conveniently positioned close to numerous local services and amenities. It enjoys easy access to the Southwestern Motorway connection and is approximately 8 kilometres from Auckland International Airport and less than 4.5 kilometres from Manukau Transport Centre,” Mr Chaudhary said.