Two retail shops, including the La Porchetta restaurant, are for sale in Albany's recently completed The Foundation complex.
Two retail shops, including the La Porchetta restaurant, are for sale in Albany's recently completed The Foundation complex.
Retail properties in Remuera, Newmarket and Albany are among 20 offerings for auction next week as part of Bayleys' second Total Property portfolio of the year.
The wide selection of commercial and industrial properties will go under the hammer in Bayleys' central Auckland auction rooms at 11 am on Wednesday,May 20, unless sold earlier by negotiation.
A two-level building occupying a high profile position in the heart of Remuera shopping precinct and producing net annual rental of $131,460 from two tenancies is being marketed by Quinn Ngo, Owen Ding and James Chan of Bayleys' Auckland based international division. Located on a 339 sq m site at 352-354 Remuera Rd, anchor tenant the Phoenix Tree Garden Restaurant occupies 134 sq m over two levels inside the building and a further 160 sq m of enclosed space at the rear of the site.
"This longstanding tenant is a popular restaurant specialising in Asian fusion cuisine and is well set up to cater for casual dinners as well as private functions," says Ngo. "The large canopy covered area at the rear can be opened up on a sunny day to make the most of the tranquil garden setting or enclosed when the weather is not so good. It can also be separated from the main restaurant area at the front when there are functions on."
The two-level building for sale at 352-354 Remuera Rd in the heart of Remuera shopping precinct.
The balance of the building, encompassing 117 sq m, is leased to another tenant which operates the Noblesse fashion clothing store downstairs and Southern Pacific Tours Limited upstairs.
Ngo says the building is a prime location close to the Victoria Avenue and Clobern Road intersection.
"The ASB Bank is on one side of the building and on the other side are a jewellers and the BNZ. It's also close to a busy New World supermarket, 215 public car parks, three other banks, a post office with over 1000 PO boxes and private bags and the Remuera library.
