Listing #:1617480144

Prime Commercial Investment

Location: 245-251 High Street, Lower Hutt, Wellington
Property use: Developmen­t site
Floor area: 1,400m2
Land area: 935m2
Price: Price by negotiatio­n
CBRE is pleased to offer for sale by Deadline Private Treaty, 245-251 High Street, Lower Hutt.

The property occupies a 935sqm freehold site and the building has a Gross Floor Area (GFA) of 1,400sqm. The well-maintained improvements have been newly painted and recently strengthened to a seismic rating of 74% New Building Standard (NBS).

The property comprises a two-storey retail and office commercial block at the northern end of High Street. Located on a corner site, bounded by High Street, a council right of way, and a rear service lane, the entire property enjoys substantial natural light from all sides. The property commands a dominant profile site adjacent to Countdown Supermarket in Lower Hutt.

High Street is the main retail street in Lower Hutt and is the main arterial route in and out of the city. The premises has three separate retail tenancies on the Ground Floor and three further office tenancies on the First Floor. The building has a total Net Lettable Area (NLA) of 1,242sqm over the two floors.
Multiple tenancies make this property an excellent opportunity for a passive investor looking to secure a property in a sought after location, with excellent growth prospects and security of income stream.

Property Highlights:
* 935sqm freehold site
* Fully leased investment
* NLA 1,242sqm
* Net income $197,299pa plus GST
* 10 on-site car parks
* High exposure
* 74% NBS
* Low risk
* Sough after location

245-251 High Street, Lower Hutt is being offered for sale by Private Treaty.

CBRE strongly recommends your early consideration of this outstanding investment opportunity and encourages interested parties to get in touch without delay.

Agency reference #: 2452018Q2
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Price by negotiation
245-251 High Street, Lower Hutt, Lower Hutt, Wellington
Price by negotiation
Listed: Mon 30 Apr, 8:50 am
Gary Hansen
CBRE (Agency) Limited, Licensed Agent (REAA 2008)
  • Contact details
  •  (04) 4749862
  •  (021) 2111754

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Agent's details

Gary Hansen
  •  (04) 4749862
  •  (021) 2111754
CBRE (Agency) Limited, Licensed Agent (REAA 2008)
(04) 4998899
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Expires: Wed 15 Aug, 9:46 am
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