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Home / Property

Rare chance for work-life balance

NZ Herald
6 Aug, 2013 05:30 PM3 mins to read

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A Birkenhead warehouse is for sale at 7-13A Enterprise St.

A Birkenhead warehouse is for sale at 7-13A Enterprise St.

Opportunity to combine functional commercial property with residential conversion overlooking the water.

A tightly held Birkenhead commercial property offering a variety of development possibilities will be auctioned this month.

The property at 7-13A Enterprise St is a unit-titled character warehouse being marketed by Colliers International brokers Mike Ryan, Matt Prentice and Peter Kermode.

It is scheduled to go under the hammer at 1pm on August 21 at 151 Queen St, Auckland, unless it sells by private treaty before.

"Commercial properties like this don't come up in this area very often," Ryan says. "The building comprises a light-filled, high stud space, with the showroom or workshop ideal for a design studio or open-plan offices."

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The current owner also has plans drawn up to create a three-level apartment in the rear of the property.

"If a buyer chose to go ahead with the current owner's planned residential conversion, the apartment occupants would have expansive 180-degree views over to Rangitoto Island, the Hauraki Gulf, Auckland Harbour and the CBD," Ryan says.

The rear of the property has an outlook over homes, Le Roys Bush and Auckland city.

Ryan says the property is on the edge of a growing Birkenhead shopping area, with light industrial and residential properties bordering it.

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"The building is in an ideal location for both commercial and residential tenants, with bus transport, shops, restaurants and cafes of Birkenhead town centre only two minutes' walk away." Prentice says that with many people looking for a live-and-work scenario, the property is expected to strongly appeal to owner-occupiers looking for functional, flexible space close to shops and transport.

"With the possibility of creating an apartment, there's also good options for developers to add value with the potential to split it into dual commercial and residential tenancies."

The property is leased to Wallace Cotton as its main office and outlet store, but when the lease expires in October it will be available with vacant possession.

The building has a floor area of 918sq m made up of a workshop and showroom offices and a mezzanine floor. It features quality fit-out, secure vehicle parking in the basement and roller door access in the front and rear leading to a small garden area.

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Kermode says the mid-1970s building is of solid brick and concrete block construction, with plenty of windows providing good natural light. "The high stud open space makes it suitable for a wide range of businesses, particularly those wanting premises with attractive industrial character features.

"The motorway network is also close, providing quick access north to the rest of the North Shore or south to the CBD," Kermode says.

"The centre of Auckland city is within easy reach, only 9km from the property and just a five-minute drive in off-peak traffic. This, together with the much lower property costs when compared with central Auckland, makes this property a desirable location for businesses that service the CBD."

Ryan says Enterprise St has traditionally had low vacancy levels and is home to a mix of commercial and industrial occupiers.

"The street comprises small-scale commercial and industrial premises, mostly constructed in the 1960s and 1970s. Many of the warehouses are occupied by trade retailers, although in recent years the street has graduated towards more showroom and direct retail uses, with many of the older industrial buildings having been refurbished."

What's on offer

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Property: Unit-titled character warehouse
Address: 7-13A Enterprise St, Birkenhead
Agency: Colliers International
Sales method: Auction 1 pm, August 21
Features: Vacant possession, ideal for design studio or offices, apartment potential

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