Two titles create extra income option for buyer

By Colin Taylor

The New Lynn building includes a warehouse, showroom and office space.
The New Lynn building includes a warehouse, showroom and office space.

A New Lynn warehouse, showroom and office complex with 16 car parks is being marketed as ideal for an owner occupier who could get extra income from leasing excess space.

The property at 29A and 31 Portage Rd, New Lynn, is being offered for sale by Meir Alfassi, a commercial and industrial agent with Harveys in Te Atatu, who is selling it by informal tender that can be placed at any time before 5pm on Monday, April 7.

"This is a finely presented property that has recently undergone refurbishment, which is suitable for a range of showroom and warehouse uses in an established light industrial location," Alfassi said.

"Certainly the location is one of the best in West Auckland. Portage Rd is one of New Lynn's main arterial routes that is close to the New Lynn railway link and the upgraded transport hub. It is also near Great North Rd and the State Highway 16 Northwestern motorway.

"Extension work on nearby Wolverton Rd will make for quick access to the Maioro Rd on and off ramp of State Highway 20, which is now under construction as part of the Western Ring Route. Completion of this huge roading infrastructure will enable traffic from New Lynn to move with ease to the north, south, east and west."

The freehold 1467sq m site is in two titles, occupied by 976sq m of one-level buildings with basement car parking and storage space.

The buildings are a 685sq m warehouse, 134sq showroom, 24sq m office and 133sq m amenities areas. The large yard has a sealed parking area.

They have concrete foundations and concrete block walls, Titan panelling, plasterboard, steel portals and trusses. The long-run iron roof has skylight inserts, the window frames are powder-coated aluminium and the front showroom has exposed trusses with suspended tiles.

"It has high visibility road frontage to Portage Rd," Alfassi said. "Because it is in two titles and therefore can be divided into two tenancies, we expect it to attract interest from local or overseas investors and family trusts. It's also likely to appeal to someone with interest in developing the site in future, as part of this rejuvenating light industrial area."

Renovations had been completed recently, resulting in a tidy and modern property.

The property is leased to the Furniture Warehouse, which is paying $118,000 a year rent, but is looking to move.

The property is being sold because it is now surplus to the owners' requirements.

Alfassi said huge investments had been made in improving transport, buildings and public spaces in New Lynn.

"The Auckland City Council plan states its transformation programme includes a range of projects and initiatives that will pave the way for the revitalisation of New Lynn as one of the most important town centres in Auckland.

"The first few stages of this plan are in place and include the award-winning transport interchange.

"Properties in this area are benefiting greatly by this investment and New Lynn has become a desired place for employees because of ease of access and services in this environment.

"Lynn Mall shopping and bank, postal and other services are just up the road from this property."

- NZ Herald

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