Strategically-located Town Centre Retail Block With Panoramic City Views Placed Up For Sale

The land and building comprising a block of retail shops adjacent to a council-built scenic viewing platform in the middle of a major suburban public transport hub have been placed on the market for sale.

The premises at 43-47 Birkenhead Avenue in the buzzing Auckland suburb of Birkenhead sits immediately beside the specially-created scenic viewing platform delivering unobstructed dramatic views of a council-owned forest reserve and park, with a vista of Auckland city and the inner harbour in the background.

Zoned business town centre under the Auckland City Council Plan, the block also sits immediately across the road from the 14,000 square metre Highbury Mall – which has been identified to undergo a multi-faceted long-term reconfiguration with plans for mid-rise apartment towers up to 12 storeys high to be built around a new and vastly bigger shopping centre.

Auckland council’s business town centre zoning applies to the city’s suburban locations located on or near main arterial roads which provide good public transport access. Birkenhead town centre is directly in the middle of the route between Birkenhead Bus Company’s depot and the central city, while the suburb also has a regular ferry timetable operating on the harbor.

The bus company’s Beachaven, Birkdale, Chatswood and Birkenhead ferry connection services all run through Birkenhead town centre, linking to the city via busy four-lane Onewa Road.

The rectangular-shaped freehold property at 43-47 Birkenhead Avenue is now being marketed for sale at auction on April 28 by Bayleys North Shore. Salespeople Daniel Henderson, Michael Nees and Ranjan Unka said the long-term value of the site lay in its future development potential - underpinned by a diverse stream of holding incomes while any necessary planning consents were acquired from the council.

“Central Birkenhead has undergone significant residential intensification over the past six years – with multiple new and substantial apartment blocks being built just a few hundred metres away on Rawene Road,” said Henderson.

“The Birkenhead Avenue property has sweeping views of Auckland city and the upper reaches of the Waitemata from its rear aspect – which is why the council recognised the aesthetic value of this location and built a public viewing platform and seating area immediately next door. It is one of only a few specifically-built amenities of its type in the city.

“The business town centre zoning within the Auckland Council Plan has a 21-metre building height limit - which has unlocked the potential for this property as a mixed-used development site that will benefit not only from its strategic town centre location but also its unobstructed hilltop location.

“Provisions under the zoning enable blocks of between four and eight storeys in height. Long-term, the height scope for this property will facilitate increased intensification and more efficient use of the existing space – including new retail units at street level, with residential units on the upper floors.”

The Birkenhead Avenue property is surrounded by multiple eateries, cafes and neighbourhood-focused retailers, including the constituency offices for the local member of parliament. Birkenhead’s main bus stop is located across the road. Within Highbury Mall, Countdown supermarket is the anchor tenant. The mall also hosts the North Shore’s biggest night markets every Sunday.

Combined in its current configuration, the three tenancies within 43-47 Birkenhead Avenue operate from 265 square metres of floor space on 541 square metres of ridge-top land and generate a passing rental of $52,619 per annum. The trio of tenancies consist of:

• Long-standing convenience store Birkenhead Superette & Lotto occupying 99.19 square metres on a lease running through to next year, with three further two-year rights of renewal generating annual rental of $32,712 +GST.
• Well-established suburban eatery Café 47 occupying 48.72 square metres on a lease running through until 2023 with a further two-year right of renewal generating annual rental of $13,236 +GST.
• Up and coming musician’s rehearsal and recording venue Basement Studio occupying 117.11 square metres on a lease running through until 2022, with two further two-year rights of renewal generating annual rental of $6,671 +GST.

The rear of the Birkenhead Avenue property adjoins extensive Le Roys Bush which contains a plethora of native trees and wildlife. The mature bush reserve, owned by Auckland Council, runs down through the middle of the suburb to Little Shoal Bay.

Click here for more information on the listing.

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