NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Property

Grey Lynn property leased to bakery

NZ Herald
5 Aug, 2015 01:30 AM5 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

An elevated view of 37-39 Crummer Rd - identified by a red border

An elevated view of 37-39 Crummer Rd - identified by a red border

A strategically positioned freehold Grey Lynn property encompassing three buildings totalling 1003 sq m with 17 car parks and redevelopment added-value potential is being offered for sale after being in the same family ownership for 29 years.

"This is a sound property in a buoyant location that has provided a long-term residence along with a good rental income for the vendors," says Cam Paterson of Barfoot & Thompson Commercial who is marketing the city fringe property at 37-39 Crummer Road for sale by tender closing at 4 pm on Thursday August 27 unless it sells earlier by negotiation.

"The 965 square metre land parcel has over 27 metres of frontage to Crummer Rd with easy access to bus routes and is a short stroll to the Ponsonby and Grey Lynn shops," Paterson says. "The current Mixed Use zoning under the operative district plan allows for commercial and residential development to a height of 15 metres but - of interest to investors and developers - this is extended to 24.5 metres under the Proposed Auckland Unitary Plan."
Paterson says the three buildings are divided into three tenancies encompassing a ground floor commercial bakery along with two upper attractive apartments.

"The apartments could also be suited to office use and are subject to short term occupancy arrangements," he says.
"The tenancy arrangements give a purchaser the options of occupying the property commercially and/or residentially; or leasing it as a well positioned investment asset with the potential to develop the site in the future.

"The surrounding area has been subject to substantial development in recent times and this is set to continue making this property well positioned to increase in value as the city grows.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"The high demand for housing is changing the composition of inner city suburbs as commercial precincts are making way for higher value residential accommodation. The greater number of residents will also increase demand for retail and commercial space."

The property currently earns annual rent of $126,942 rental from two tenancies with one of the apartments vacant.

The ground level tenancy of 548 sq m fronting Crummer Rd is occupied by the bakery and includes office, retail and amenities space along with 10 of the 17 car parks. A six year lease for $98,342 per annum plus GST commenced on September 1, 2008 with one six-year right of renewal giving a prospective final expiry date of August 31, 2020, with reviews two yearly to market rates. Outgoings are 100 per cent payable on a pro rata basis of 54 per cent.

Advertisement
Advertise with NZME.

The first level frontage area of 109 sq m is a two bedroom flat that is vacant. It has an estimated annual rental potential of $30,000 while a rear 346 sq m apartment of four bedrooms earns rent $28,600 per annum rented short term to the vendor's son, but which has a market rental potential of $52,000 per annum.

To the rear and built up to the north eastern boundary is a single level workshop which adjoins a larger two storey warehouse and workshop structure to the north-western boundary. A sealed car park and driveway area occupy the balance of the site.

Paterson says the three buildings were constructed in the 1970s with alterations and additions in later years and appears to be of concrete foundations, with reinforced concrete block column walls along with concrete block infill panels and some fibrolite. The walls incorporate aluminium joinery and the roof appears to be trough galvanised metal with some translucent panels over paper and netting supported by metal purlins and beams.

"The ground floor bakery tenancy spans all three buildings," Paterson says. The lower level of the building to the front is regular office space divided into multiple rooms with

a bathroom and two external entry points. The central building is single level and was accessed by two large roller doors indicating a garage type use. NZ Post, the previous tenant, closed in the tenancy to its current state.

The stud height is about 4.2 metres and is used for the bakery's food preparation area. The ground level of the rear building is accessed via a roller door and pedestrian entry to the south of the structure. "This entry point offers a generous stud height suitable for truck access and the balance of the space has a false ceiling," says Paterson. The space is divided into storage, loading, food preparation, bathroom amenity sections along with ovens and chillers.

The front flat has its own access off the car park leading to a large two bedroom apartment and to have appears to originally constituted office space but has been upgraded into a large good quality two bedroom apartment. "This is a very attractive residence and it will be sold vacant," Paterson says.

The rear flat has its own access from a separate stairwell inset from the ground floor level and also appears to have originally been commercial space but has been repainted and reconfigured to provide a large high stud cathedral-styled residential loft apartment with four double bedrooms and one full bathroom and separate toilet.

The rear flat will be sold with a standard residential tenancy in place for $550 per week with an expiry of November 30.

For more information on this property visit:
TrueCommercial.co.nz

Advertisement
Advertise with NZME.
Save

    Share this article

Latest from Property

Property

Mount Maunganui section bought for £4000 sixty years ago - what will it sell for now?

12 Jun 08:26 AM
Property

CV boost for rich-lister baches: The Auckland suburbs that have gained the most

12 Jun 08:20 AM
Property

How driving a ‘s*** car’ helped welder buy his first home at 19

11 Jun 08:36 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Property

Mount Maunganui section bought for £4000 sixty years ago - what will it sell for now?

Mount Maunganui section bought for £4000 sixty years ago - what will it sell for now?

12 Jun 08:26 AM

Agents reluctant to pin a price on rare waterfront property.

CV boost for rich-lister baches: The Auckland suburbs that have gained the most

CV boost for rich-lister baches: The Auckland suburbs that have gained the most

12 Jun 08:20 AM
How driving a ‘s*** car’ helped welder buy his first home at 19

How driving a ‘s*** car’ helped welder buy his first home at 19

11 Jun 08:36 AM
Tony Alexander: Who'll blink first on unrealistic asking prices?

Tony Alexander: Who'll blink first on unrealistic asking prices?

11 Jun 07:05 AM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP