Bay of Plenty commercial premises set for auction

A freehold property at 14 Cameron Rd (red bordered) in Tauranga. Photo / Supplied

Four Bay of Plenty commercial properties covering a range of budgets, three in Tauranga and one in Mt Maunganui, will be auctioned on September 23 as part of the regional offerings from the latest Bayleys Total Property portfolio.

A freehold property occupied by City Dental at 14 Cameron Rd, near Park St and opposite the Domain in Tauranga, offers a rare opportunity to secure prime commercial space at the city end of Cameron Rd, says Brendon Bradley, of Bayleys Tauranga.

A recent assessment undertaken by the Traffic Design Group along this main arterial route recorded a seven-day average of almost 18,000 vehicles passing by.

The premises comprise a ground floor of 229sq m and a small upper level space of 20sq m located on a 683sq m site with ample car parking. The 1960s building has undergone a number of refurbishments over the past 40 years, the most recent being in 2005.

The premises, occupied by City Dental, a member of the national dental healthcare group, Lumino Dental, comprise a large, modern, open-plan reception and waiting room, five surgeries (four with office area), staff room, laboratory, x-ray room, several offices and a computer-server room.

The x-ray room has been lead-lined to house sophisticated scanning and x-ray equipment and the entire premises have been fully digitalised and future proofed with computer cabling, says Bradley. A substantial investment has been made to customise the premises for this high-tech dental practice." The current lease runs until 2012, with rights of renewal until July 2024. The rent of $128,000 plus GST per annum is reviewable next year and then every second year.

In Mt Maunganui, Rob Pinny, of Bayleys Tauranga, is marketing a freehold dual-tenancy property at 22 Taupo Ave on a high-profile 840sq m corner site opposite an entrance to the busy Bayfair Shopping Complex.

The single-level building, completed in 2004, has a floor area of 340sq m, divided into two 170sq m tenancies, each with six car parks.

The property is producing net annual rental income of $81,835, which is currently under review. The tenants are real estate company Remax and health professionals Health4U.

Pinny says properties in Taupo Ave and adjoining Farm St are being redeveloped for commercial use, with neighbouring businesses including a veterinarian, hair salon, and a photographic studio and offices.

Pinny is also marketing for mortgagee auction the strata-titled Unit F at 30 Willow St, Tauranga. The unit is within a late-1980s office-suite complex on the corners of Willow, Monmouth and Anson Sts at the northern end of Tauranga's CBD and within walking distance of the main retail centre.

It has a street level office area of 55sq m and office floor of 154sq m above, kitchen and toilet facilities, storage area and two car parks. The unit is zoned Residential A under the Tauranga District Council Operative Plan, with offices a permitted activity within this zone subject to Resource Management Act compliance.

The unit was previously divided into four tenancies with an estimated market rental of $36,000 plus GST.

It is currently partially leased and offers an opportunity for an owner-occupier to acquire their own premises while also having some income stream from the property, says Pinny.

Alternatively, given the zoning, it could be converted to apartment living on the mid-floor while retaining a commercial tenancy on the ground floor."

The remaining property up for auction comprises two freehold unit-titled commercial units in Tauranga's recently developed Waimapu Business Park, being jointly marketed by Bradley and Pinny.

Units 11 and 17 are of high-stud, tilt-slab construction and back on to SH29. Bradley says they would be suited to either owner-occupiers or investors prepared to secure tenants.

"This area has consolidated nicely in recent times with quality tenants such as Lollipops Playland, Storage King and Bethlehem Coachlines.

"The units for sale are entry level, ready for customising to individual needs and with good parking available. Tradespeople or small business owners can take some control over their futures by buying well ...

"The vendor is serious and prepared to meet the market."