Miramar garage proprietor Carl Northcote has bought the cluster of shops where he runs his workshop, because he was worried a developer could force him to move.
"Basically, I didn't want a developer coming in and taking it away. All our leases are coming up next year and there was nowhere else we could go.
"It was a case of getting in to save it and secure our own premises," said Northcote, who bought the shops at 82 Rotherham St for $630,000.
His business, The Local Garage, is in one of the shops.
Others businesses in the block are the Lush Puppies dog-grooming salon and the Polo Cafe, run by Valentina Dias, who is also part-owner of the Roxy Cinema.
Dias said she was pleased Northcote bought the property. "We were concerned it would go to a developer who wouldn't want us."
The block had a garage, dairy, greengrocer and butcher's shop in it when it was built 75 years ago by Wellington patent attorney and artist Sydney Higgs. It was subsequently passed on through three generations of the family before being put up for sale last month. The deal was brokered by Colliers International agent Rick Stace.
The shops were returning a net rental income of $27,000 a year and had a 2009 rating value of $810,000.
- © Fairfax NZ News
Do you rent or own your home?Related story: $1m-plus in unclaimed bonds