PHOTO: ‘The Wharf’
‘The Wharf’ is an unmissable landmark as you cross the Harbour Bridge in Tāmaki Makaurau/Auckland – and it’s now up for sale.
The commercial property on Queen St in Northcote Point has three levels, parking aplenty, ferry services, flexible seating, and 1190 square metres of floor space.
Roger Seavill from Colliers Real Estate says it’s a special property.
“The views are outstanding. It’s got a ferry service, ample parking adjacent, and it’s easy to get to – even if you’re on the city side of the bridge.”
Floor-to-ceiling glass gives stunning views to the Waitematā Harbour and the supercity skyline.
“It’s been used occasionally on an ad-hoc basis, but it’s basically been shuttered since probably from the time of the second lockdown in Auckland,” Seavill told Newshub.
The building was leased until COVID-19 arrived, when the tenants relinquished their long-standing lease.
But Seavill said it was doing well before then, and the present owner just wants to find a new owner.
“It’s versatile,” he said.
It had been operating in Tāmaki Makaurau/Auckland for 50 years, and is purpose-built for events, conferences, weddings, with an on-site restaurant/bar.
“It is a real landmark.”
Seavill was coy about an expected price for the property, but the latest valuation from Auckland Council lists the property’s CV at $9,050,000, as of June 2021.
This valuation occurred near the peak of the property cycle, meaning if a 2023 council valuation were to be carried out, it would likely be significantly lower than the 2021 figure.
Economists widely predict the Reserve Bank will hike interest rates even further in the coming months, and Seavill told Newshub higher interest rates always affect the yield, which is “echoed in the residential sector”.
The Wharf is being sold via deadline private treaty, and the deadline for offers is April 5th.
Interested buyers can then negotiate with the vendor.
READ MORE VIA NEWSHUB