Bayleys Real Estate will auction a multi-tenanted, has vacant retail space in Titirangi Village.

The property is on offer for lucrative leasing to one or two tenants or an owner occupier.

It boasts a 34m frontage to Titirangi Rd, and comprises 575sqm on a freehold 2664sqm site.

The property produces a net yearly rental income of $133,570 in combination with GST from four tenants and has 273sqm of vacant ground floor space.

This opportunity is noteworthy as landlords are known to hold onto their properties in this village, known for its dearth of commercial buildings.

It is zoned for community environment, which accommodates retail usage. It has large lot and local centre zoning under the Proposed Auckland Unitary Plan. Local centre zoning permits buildings up to four storeys high.

The property is made up of two buildings, one being an older style character building that was originally the village hardware store.

The second larger building was completed in 1979, with alterations to the roof taking place in 2000 to add distinctive pyramid-like turrets to improve natural light penetration into the main ground floor tenancies.

The main occupant is Glover Real Estate, a boutique west Auckland real estate company with offices in Green Bay and New Lynn.

The fitout of the 273sqm of vacant space has been removed, although a large walk in safe is still in position as are the kitchen and bathroom. An ATM on the outside wall increases the property’s income stream.

The upper level on Titirangi Rd houses a popular main cafe area and the basement below is used for private functions and storage by the tenant.

The property will be auctioned on May 20.