Listing #:1515912953

Purchase under CV!

Location: Otahuhu, Auckland City, Auckland
Property use: Industrial
Floor area: 5,572m2
Price: Asking price $6,600,000
The property at 20-22 Weka Street, Otahuhu is a 9,789sqm freehold site situated at the southern end of the Otahuhu industrial precinct. The site allows for dual access off Weka Street and from Chelsea Avenue. It holds a commanding land and building presence in the heart of Otahuhu offering an excellent opportunity for any purchaser to buy at an affordable price per square and add value by strengthening the existing leases over the next two and half years.

The building consists of 5,572sqm of warehouse and office floor area which is situated throughout four different buildings. The main building is split into 11 different tenancies occupied by six different tenants. With the other three buildings occupied by the remaining two tenants.

The Total Current Gross Rental including GST is $474,712.60. The owner has advised me that his current operating expenses for the site are $43,072.84. Removing the OPEX and GST components from the figure above provides a net rental of $375,338.92.

Property Information:

• Floor Area: 5,572sqm
• Land Area: 9,789sqm
• Current Rental: $375,338.92 net pa + GST
• Priced to sell at $1,256psm
• Business Zone: Light Industry
• Split Risk Investment with upside
• Dual Access

For more information, including a LIM, IM, Tenancy Schedule & CT or to arrange a viewing please contact the sole agent:

Matt Tills
021 168 2098
matttills@jamesgroup.co.nz
NOTE: All prices are exclusive of GST (unless otherwise stated)

Agency reference #: JG01484
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Asking price: $6,600,000
Listed: Thu 11 Jan, 9:00 am
Matt Tills
James Group Limited , (Licensed: REAA 2008)
  • Contact details
  •  (09) 2539330
  •  (09) 2539330

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Agent's details

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Matt Tills
James Group Limited , (Licensed: REAA 2008)
(09) 2539330
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Expires: Thu 13 Dec, 12:00 pm
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