A building for sale at Birkenhead is steeped in history, yet offers plenty of future potential, according to Harcourts agents.
The property at 243 Hinemoa St - on a 412sq m section opposite Birkenhead Library - is for sale for the first time in 25 years.
It is being marketed for sale by Harcourts North Shore commercial specialists Isaac Tankard and Nick Young and will go to auction on October 5, unless sold earlier.
Tankard says character buildings, such as this are a rarity in the present tightly-held market.
"The building was constructed in about 1913 and has had a very colourful history over the years."
When first constructed, it was the first general store in Birkenhead, S. Roberts General Provider. A substantial double building, it was one of the first commercial buildings in the area.
On the second storey was the Highbury Cash Store, set up in anticipation of the large potential market within the Birkenhead/Highbury area. Soon after commercial development boomed, with blocks of shops erected to house businesses.
Tankard says as the village grew around it, the store remained an important part of the heart of Highbury and was extended in the 1960s to fit requirements.
Today, with its prime frontage on to Hinemoa St, the property remains in a sought-after commercial location. It comprises of two tenancies earning a total of $72,000 per annum.
Mulan Southeast Asian Cuisine rents the ground floor, while also renting an upstairs flat. A billboard positioned on the south-eastern side of the building provides a further source of income.
Young says the strong covenant and future add-value, make the sale an investment opportunity.
"This is the first time in 25 years this property has been offered up for sale and its filled with character."
The property is in Town Centre Zoning, which allows for a building height of 21m, and it is only 4km northwest of the Auckland City centre. Birkenhead ferry terminal is at the base of Hinemoa St, which provides regular commuter services to the CBD.
The building is freehold and comprises a general construction of weatherboard and concrete block exterior wall cladding, with aluminium long-run roofing on the road front portion of the building.
The 412sq m site is a rectangular shape with about 9.4m of frontage onto Hinemoa St.