Versatile block is a 'must sell'

By Colin Taylor

Three-storey office building has potential to be renovated for residential occupation.

The two-level office, warehouse and showroom building for sale at Diane Drive on the North Shore.
The two-level office, warehouse and showroom building for sale at Diane Drive on the North Shore.

A vacant two-level freestanding office, warehouse and showroom building at 48B Diana Drive, in the North Shore's Wairau Valley, must be sold and is being marketed as being "ideal for owner occupier or opportunist seeking a great deal".

The 346.53sq m building, with eight covered car parks and garage, occupies a total freehold site area of 3053sq m and is one of four units on a parent section roughly rectangular in shape and with a frontage of 43.89m to Diana Drive.

Designated Unit B, the property is expected to go under the hammer at the offices of NAI Harcourts Mairangi Bay at 400 Beach Rd at noon on Thursday, September 27, unless it sells before.

"We believe this property will mainly be of strong interest to owner occupiers," says Andrew Bruce of NAI Harcourts of Takapuna, who is marketing it with colleague Janette Young.

"It offers a mix of well-presented and functional first-floor office space plus a ground-floor area ideal for either technical servicing, light assembly or manufacturing, showroom display, laboratory testing, on-site archiving or file storage or warehousing."

The building comprises a ground-floor area of 84.77sq m, first-floor office space of 227.1sq m and an entrance lobby of 34.66sq m.

"While it was built in the mid 1980s, it still has a modern appearance with a timeless exterior fa�ade clad in mirror-glass curtain walling and was extensively refurbished in 1999 including a new roof," says Bruce. "Other features include a road-front position in Diane Drive, easy motorway access to State Highway One at the Tristram Ave interchange just 1km away and functional layout with flexibility."

He says the property is vacant and it has been for lease for an extended period. "The owner is motivated to sell and wants it gone. The capital valuation as at July 2011 is $560,000 and it would be impossible to buy land in the area and build for this price."

Previously it served as the North Shore head office for the combined business of Valentines Restaurant, Sierra Coffee and Palmers Garden Centres. It also housed Sierra Coffee's roasting and training facility.

Bruce says the annual rental at that time was $68,302 plus GST, plus outgoings. More recently the property has been available for lease by negotiation.

He says Wairau Valley has traditionally been the North Shore's main industrial area, but many of its older properties are being redeveloped and refurbished.

"Increasing commercialisation and a trend toward conversion to bulk retail, home improvement and showroom uses have resulted in a renewed level of interest in the precinct," he says.

"Business operators, developers and investors alike are recognising the advantages that such an established area offers in respect of its existing infrastructure, shorter travel distances and, in many cases, lower rental costs and prices."

The property is zoned Business 9 under the operative North Shore City Council District Plan 2002, which allows most industries and commercial office uses excluding those of a noxious or offensive nature.

The first-floor offices comprise a large open-plan area, partitioned reception area, two large front offices extending across the width of the building, separate office, kitchen and lunchroom, storeroom, toilets, shower and rear fire egress stairs.

"The ground-floor area is fully lined with plenty of large windows providing excellent natural light," says Bruce. The floor is painted concrete with a stainless steel sink bench unit to one end, a separate double-door external entrance and internal access to the enclosed garage with roller-door entry. Natural gas has also been installed and the upper floor main office area has ducted air-conditioning.

The office areas are newly carpeted while the amenity and kitchen areas have vinyl floor covering.

Chattels that are included in the sale include the burglar alarm and a dishwasher.

- NZ Herald

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on red akl_a1 at 25 Apr 2014 00:17:26 Processing Time: 757ms