Landmark Otahuhu properties include former PM's childhood home

The late Prime Minister David Lange lived at 2 Piki Thompson Way, Otahuhu in his early years. Photo / Supplied

Two Otahuhu landmark properties - the childhood home of former Prime Minister David Lange and the Otahuhu Working Men's Cosmopolitan Club - will both go under the hammer at the end of this month.

The properties at 2 Piki Thompson Way and 48-50 Atkinson Ave will be auctioned at Colliers International, Level 27, 151 Queen St at 11am on September 29.

David Lange spent his early years living in the 295sq m Piki Thompson Way building in the family's upstairs apartment, while his father's medical practice operated downstairs.

John Davies, who is marketing the property with Bruce Jiao, says the two-storey building is today home to Auckland-based finance company MoneyShop, which has been a tenant in the property for nearly two decades after setting up its first branch and headquarters there.

Jiao says the vendors are moving into retirement and have decided to sell the 976sq m site with 12 carparks.

Davies believes private individuals and family trusts are potential buyers of the Piki Thompson Way property. "It is an affordable, freehold property investment in a high-profile location with an established and long-term tenant. Investors have the opportunity to buy a building with history and the opportunity to enhance the property in conjunction with the tenant."

MoneyShop, an Auckland-based finance company, has leased the 2 Piki Thompson Way premises since 1992, paying a net rental of about $45,000 per annum on a three-year lease to March 2013.

"MoneyShop is not going anywhere," says Davies. "They are in the heart of their target market and everyone in the area knows where the MoneyShop is. This provides the buyer with the opportunity to enjoy a strong return now and consider their options for the future."

Davies, along with colleague Todd Kuzmich, is also marketing The Otahuhu Working Men's Cosmopolitan Club, a two-level building on a prominent freehold corner site in Otahuhu that includes an off-street parking site across the road.

The building is on two separate Business 3-zoned titles on the corner of main roads Atkinson Ave and Avenue Rd, which lead directly to Great South Rd, one block away.

"A significant arterial route, Atkinson Ave is one of two major streets leading through Otahuhu and diverging to the north," says Kuzmich.

Zoned Mixed Use on two separate titles, the 1608sq m property is owned by the Trustees of the Otahuhu Workingmen's & Cosmopolitan Club and is well maintained.

The building is on freehold sites totalling 1608sq m. The two-level structure includes fully equipped bar facilities and commercial kitchens, plus standard toilet facilities.

Dedicated carparking is provided for the property on a separate 2529sq m site across the road at 48-50 Atkinson Ave.

The property is zoned Business 3, which is predominantly mixed use but is designed to enable the development of an urban mix of residential, retail and business activities.