A large commercial property at the corner of Queen and Baxter Streets in Warkworth will be auctioned on Wednesday March 8.
The building sits on a 1056sqm site zoned Business Town Centre with three current tenants including Warehouse Stationery. It was last sold in 2009.
Agent Barry Masefield, of Barfoot & Thompson Commercial, says the property has appeal to both developers and investors. He has received local interest, as well as enquiries from Auckland and overseas, and is expecting it to sell for in excess of $3.5 million.
While the anchor tenant has a six-year lease, a demolition clause does give the owner options, Barry says.
“It’s also a freehold property with a fee simple title, which is about the best you can get. It lends itself to a development that takes advantage of the river frontage and there would be the opportunity to put apartments above.”
The auction will be held at Barfoot & Thompson Commercial, 2/719 Whangaparaoa Road, Whangaparaoa, unless sold prior.