This showroom, office and warehouse complex is for sale at 6A & 6B Jack Conway Avenue, in Central Manukau.
Two substantial showroom, office and warehouse units in central Manakau are up for sale as part of Bayleys' latest Total Property portfolio offering a new owner the option of either vacant possession or a significant holding income.
Located at 6A & 6B Jack Conway Avenue, just off the main arterial road of Cavendish Drive, the two-level units which total 1637 sq m and are within walking distance of the Manukau Shopping Centre , are part of a four unit complex built in the late 1980s.
They are for sale by deadline private treaty, closing at 4 pm on Thursday December 4 and are being marketed by Mark Pittaway of Bayleys Auckland and Dave Stanley of Bayleys Manukau. Offers can be made on the two units in total or on the individual units.
"This is an opportunity for an astute investor to secure a high profile position in central Manukau and take advantage of the significant growth projected for the area, driven in part by the further development of public transport and growth of the tertiary educational sector and associated businesses," says Pittaway. "The two units for sale have projected total income of close to $220,000. They can either be acquired with vacant possession or the present owner, who has a business occupying both units, is prepared to consider offering a new owner holding income of $18,000 per month gross, for a term to be negotiated between the parties. This would give the purchaser time to source new tenants"
The 938 sq m Unit A encompasses 277 sq m of showroom and office space on the ground floor, 382 sq m of warehousing at the rear, plus 279 sq m of first floor offices and 23 car parks. It fronts onto Jack Conway Avenue and has estimated potential annual income of $138,640 plus GST and outgoings.
Located behind Unit A, the 748 sq m Unit B comprises ground floor offices and warehousing of 466 sq m plus a mezzanine office and conference facility of about 282sq m and 10 car parks. Its potential net rental income is estimated at just over $80,000 per annum plus GST.
"A key feature of the property is the large yard at the rear which provides a significant area for staff parking and goods and service vehicles. All the units have roller door access onto the yard and there is good customer parking at the front of the premises facing onto Jack Conway Avenue," says Pittaway.
Stanley says the property is well located in the central Manukau commercial and retail area, just to the north of Cavendish Drive, a main arterial route linking Manukau with the southwestern SH20 motorway and Auckland Airport as well as to the SH1 north and south motorway.
"Commercial businesses in and around Jack Conway Avenue and this part of Cavendish Drive encompass a broad range of activities including retail, showroom/warehousing, residential apartments, childcare and education centres."
Pittaway says the units are currently used for educational training and present opportunities for both owner occupiers and investors.
"They would lend themselves easily to multiple activities, such as a continuation of their current educational use, for church use, or for the more traditional business purposes they were developed for.
"They also have a central stairwell and could be easily divided into multi tenancies on both the ground and mezzanine floors. This has been done in the past, with up to four tenants occupying the front unit at one stage. This would enable an investor to maximise the income return from the units and also spread the investment risk across multiple occupants," says Pittaway.
"There could also be a good opportunity here for an owner occupier to use some of the space and rent out the balance to help cover any mortgage costs."
For more information on this property visit:
TrueCommercial.co.nz