Listing #:1575862304

SPLIT RISK INVESTMENT

Location: 57-63 Birkenhead Avenue, Birkenhead­, North Shore City, Auckland
Property use: Retail
Floor area: 490m2
Price: Price by negotiatio­n
This Fee Simple investment, located in the heart of Birkenhead's town centre, has had recent long term leases bringing the current passing income up to $84,400 net per annum with further rental upside from a vacant retail tenancy, but now offering a new owner multiple income streams from a mix of retail and service tenants on a weighted average lease term of 4.5 years.

Favourable location and zoning are evident, being opposite Highbury Mall on Birkenhead Avenue, the site benefits from Town Centre zoning and an elevated position, with clear potential for future redevelopment to take advantage of the mixed-use and exceptional views.

The affluent residential catchment provides the Birkenhead town centre with high levels of vehicle and foot traffic seven days a week, and with limited vacancies in the area and a tightly held commercial property market, this opportunity provides many avenues for future upside.

KEY FEATURES:
• Approx. 780m² land with 490m² of lettable building area
• Three tenants returning $84,400 net per annum with WALT of 4.5 years
• Further rental upside from one vacant retail shop
• Favourable Town Centre zoning, offering 21m height limited and residential use
• Contact the Agents today for further information

Agency reference #: 77867
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Price by negotiation
57-63 Birkenhead Avenue, Birkenhead, North Shore City, Auckland
Price by negotiation
Listed: Mon 19 Mar, 3:51 pm
Nick Brown
Barfoot & Thompson MREINZ North Shore Commercial MREINZ, Licensed Agent (REAA 2008)
  • Contact details
  •  (09) 3597817
  •  (021) 1623239

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Agent's details

Nick Brown
  •  (09) 3597817
  •  (021) 1623239
Bruce Jiao
  •  (09) 3597881
  •  (021) 818077
Barfoot & Thompson MREINZ North Shore Commercial MREINZ, Licensed Agent (REAA 2008)
(09) 4893880
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