The building's perimeter walls are a combination of reinforced concrete frames with a double layer of brick infill sitting over concrete foundations and a concrete slab floor. The roof consists of steel beams spanning between reinforced concrete columns, timber joists, and battens and aluminium Alstrip roofing. The Beach Rd frontage has aluminium joinery with full height glazing.
"The adjoining building is occupied by Maxwells Drycleaners and The Opportunity Shop, which appears to be constructed on wooden floors and timber framed walls and cement board cladding. The roof is long run iron, and the shop frontage has wooden joinery with ample glazing to maximise natural light and exposure for retail operators," Allsop says.
Mairangi Bay on the North Shore is a popular suburb due to its closeness to the Auckland CBD only 16kms away.
"The seaside community is a short distance to Albany, and only 3km to the northern motorway interchange at Constellation Drive," says O'Brien.
The property is zoned Business Local Centre, which applies to a large number of small centres throughout New Zealand.
"These centres are generally located in areas of good public transport, and primarily provide for the local convenience needs to the surrounding residential areas, including good local retail, commercial services, offices, food and beverage, and appropriately scaled supermarkets," Stratton says.
The expansion of these centres will be appropriate if it provides greater social and economic well-being benefits for the community. "Provisions typically enable buildings of up to four-storeys high, allowing for residential use on the upper floors," Allsop says. Not only does this property then allow for retail development it is also an ideal site for the construction of apartments," adds Stratton.
The Mairangi Bay commercial and retail strip lies on Beach Road, which is the main arterial route connecting Takapuna in the south to Browns Bay and Long Bay in the north. The property itself is only a five minute walk from popular Mairangi Bay beach.
There are several high decile primary, intermediate and secondary schools close to the village. Other local amenities include the Pupuke Golf Course, Albany Interplex, the Millennium Institute, Wairau Valley Industrial Estate and the popular Mairangi Bay beach with its views out over the Waitemata Harbour to Rangitoto Island.
According to Colliers International latest research, occupier demand for the retail sector remains strong with a vacancy rate of just 2.9 per cent. This demand is translating into strong leasing activity with rents increasing across most store types. The rise in rents is attractive to investors who remain competitive in this low interest rate environment.
