The modern premises housing an exclusive bridal studio in an award-winning urban renewal complex is up for sale in Auckland’s Uptown precinct.

The high-profile ground-floor retail unit on Khyber Pass Road marries excellent investment credentials with a prime position in one of the city’s most vibrant city-fringe precincts.

The Uptown property is fully leased to Alter Me, a one-stop studio specialising in ready-to-wear designer wedding dresses, bespoke bridal gowns, and bridal dress alterations. The business has featured in major wedding and lifestyle magazines in New Zealand and Australia.

Now poised to go under the hammer, the site is being promoted by Bayleys’ sales team as a passive investment to have and to hold – in an affordable price range that could present a rare opportunity for smaller investors.

The approximately 124-square-metre unit with one car park generates a net rental return of $56,000 plus outgoings and GST per annum – with fixed annual rent increases, replaced by market reviews upon lease renewal. The current lease term runs through to 2031, with three further six-year rights of renewal.

The unit sits within the award-winning SKHY development, an ambitious urban renewal project which converted an old mall post office and commercial tower into a modern industrial chic destination combining apartments, offices and retail spaces.

The complex was designed by celebrated Cheshire Architects, whose work has helped shape Britomart, City Works Depot and the University of Auckland. It was developed by Lamont & Co (now part of NZX-listed Precinct Properties), which built its reputation with projects including the Fabric of Onehunga residential development, student accommodation, and CBD office building upgrades.

The SKHY project won a major honour in the 2020 New Zealand Architecture Awards.

Unit 9G, 38 Khyber Pass Road, Grafton, Auckland, is being marketed for sale by Phil Haydock and James Were of Bayleys Auckland Central.

The stratum in freehold-titled property will go under the hammer at an auction on Wednesday 2 July, unless it is sold prior.

Haydock said the sale represented a rare and affordable opportunity to secure a high-quality, low-maintenance commercial investment in an increasingly lively part of the city fringe.

“Buyers will recognise this as a well-leased, hands-off retail investment in a high-growth location.

“Constructed some six years ago, this well-presented and well-appointed space has a strong street presence fronting busy Khyber Pass Road. It comes with a secure basement car park, with numerous public parking options available nearby,” Haydock said.

The property sits near the corner of Khyber Pass Road and Symonds Street, in an area known for its colourful mix of retail and hospitality. This location enjoys excellent access to the CBD, Newmarket, motorways and the nearby Mt Eden Station – a key hub of Auckland’s upcoming City Rail Link.

The site for sale forms part of the coveted Business – Mixed Use zone under Auckland’s unitary plan. This flexible zoning permits activities ranging from residential and office accommodation to retail, food and beverage, and healthcare.

Were said the position on Khyber Pass Road maximised exposure to vehicle and pedestrian traffic.

“Frontage to this key arterial route assures occupiers of a strong street presence, making it ideal for businesses looking to capitalise on visibility and accessibility.

“With seamless connectivity to Auckland’s key business districts, the property offers convenience for both customers and staff.

“The area is well-served by public transport, including bus routes and nearby Grafton Train Station, while also providing easy access to Auckland’s motorway network, linking to state highways 1 and 16,” Were said.