Boutique commercial office space in the South Auckland building that was the childhood home of former Prime Minister David Lange is up for sale.
The 976sq m freehold site is on a corner at a busy intersection near Great South Rd and Piki Thompson Way in Otahuhu. It has two entrances, allowing traffic to drive in from either of the road frontages, and 12 carparks.
The stately, two-storey, 1930sstyled building at 2 Piki Thompson Way has offices on the upper floor with a reception area and meeting rooms on the ground floor, including a fully consented garage conversion. Total floor space is 294sq m.
Money Shop has been the long-term tenant at the site since 1993, and the company recently renewed its lease until 2016, with an additional three-year right of renewal. The annual net income from the lease is around $46,900 plus GST.
The Otahuhu branch of Money Shop was the company's first outlet.
The property has a capital value of $450,000, with annual rates of approximately $4000 plus GST.
Other annual outgoings, such as insurance and building maintenance, come to about $8300.
The property is being marketed for sale at auction on March 6 by Tony Chaudhary of Bayleys Manukau and Rachael Pittaway of Bayleys Auckland Central.
Lange's father, Dr Roy Lange, commissioned the home to be built in the 1930s because it was near local maternity hospitals. David Lange grew up at the property during the 1940s and 1950s. "The property is zoned 'Business One', which allows flexibility around its use," Chaudhary says. "This property is a landmark in the area, not only as David Lange's childhood home, but as the founding site of Money Shop."
In his autobiography, David Lange - My Life, the former Prime Minister wrote fondly of the house.
"Our family life at the house revolved around my father's role as a doctor.
"Each room had a bell for summoning a maid. On the ground floor there was a closet for the maid in which a device displayed different colours to show which room was calling for service. The absurdity of it was that my father never employed a maid."
Chaudhary says the building is also known locally as "the house behind the monument" as it sits directly behind a large bronze statue featuring a soldier on a horse, erected in 1928 to pay tribute to the fallen soldiers of World War I.
"This property has a very special history and most residents in the area now consider it a landmark.
"It also has a huge visual street frontage impact from the nearby intersection. The effect this has is reflected in the fact the tenants have been here for 20 years," he says.
"The building's interior is packed with character features such as archway windows on the first storey and French-style louvres on the top floor."
Chaudhary says the nearby Otahuhu CBD comprises a vibrant and cosmopolitan township that includes a raft of tenancies to government agencies and social amenity providers, along with a mix of retail outlets.
"With a growing urban population both in Otahuhu and the surrounding suburbs of Manukau and Auckland Airport, demand has remained consistent for office space.
"This particularly applies to buildings with a street frontage enabling easy access for 'walk-in' customers, many of whom use public transport to get to and from the town centre."
What's on offer
Property: Otahuhu commercial building
Address: 2 Piki Thompson Way
Sales method: Auction on March 6
Feature: Childhood home of David Lange