15 James Street, Central Whangarei, Whangarei, Northland

Diversify risk with this well-positioned mixed-use investment in the heart of Whangarei.    15 James Street presents a rare opportunity to acquire a high-quality commercial investment complemented by a beautifully appointed residential apartment above.  The entire property underwent a high-spec refurbishment in 2024, delivering a compelling combination of strong income, proven tenancy, and modern presentation.   The ground floor is purpose-designed for AV Beauty & Spa, a well-established local operator with over 15 years in business and an excellent reputation within the Whangarei beauty market.    The salon showcases refined detailing, including a stylish reception area, timber panelling, and a well-considered layout. Glass-fronted with integrated automatic doors, the premises offer a clean, professional street presence. Internally, the salon features centrally positioned manicure and pedicure stations, curtained treatment rooms to the rear, and an efficient, client-focused fit-out.   Above, the refurbishment has transformed the upper level into a contemporary inner-city three-bedroom apartment. The residence includes a master bedroom with ensuite, open-plan kitchen and living area, and seamless flow to a private patio deck, providing an attractive residential component that enhances the property’s overall appeal.   The property comprises a total lettable area of 447 sqm, being approximately 328 sqm of ground-floor commercial retail and 119 sqm of residential accommodation. It generates a strong gross income of $132,120 per annum, with approximately 67% of outgoings recovered through the commercial lease.   The commercial premises are leased to AV Beauty & Spa under a secure six-year lease with five rights of renewal of three years each. The lease incorporates both market and CPI rent reviews, offering solid income security and long-term growth potential.   Centrally located with street parking at the front and public parking directly opposite, 15 James Street represents a high-quality, diversified investment in a proven inner-city location.   Being sold by Deadline Date Sale closing 2:00pm, Thursday 14 May.  Contact Megan (027 346 4194) today to book a viewing and register your interest.

Features:

• Returning $132,120 gross per annum
• Substantial high quality refurb in 2024
• New 6 year lease commencing 1 June 2026
• Established, well regarded tenant
• Good rental growth provisions
• Mixed use Building
• CBD location
• Split risk

By Negotiation

More information: https://www.colliers.co.nz/p-NZL67039433