Listing #:1696535662

Prime Cavendish Drive investment

Location: 24 Cavendish Drive, City Centre, Manukau City, Auckland
Property use: Retail
Floor area: 630m2
Price: Price by negotiatio­n
Sale by deadline private treaty by 5pm Wednesday 5th September. SOLE AGENCY

The property is located on the busy and high demand Cavendish Drive in Central Manukau.

Currently returning $153,920 pa (plus outgoings + GST) with Barfoot & Thompson as long term tenant:
- with 3 further 6 year ROR (final expiry 31 March 2037)
- two yearly market rent reviews (next review 1 April 2019)

The property has one of the most visible frontages on Cavendish Drive, with large signage rights on the verge also. Within walking distance of Westfield Manukau Mall and other nearby significant retail, commercial, service, cafe and dining premises. Easy access to Southern and Western motorways.

This is a great passive investment. Opportunity may exist to improve the rental return by restructuring the lease into two separate tenancies (ground and upper floor). Suitable for a wide range of businesses, office or retail/showroom.

Features:

- 630m2 floor area
- 23 car parks
- Street frontage - more than 32,000 vehicles per day drive past!!
- Great Central Manukau Location
- ROR: 3 further terms of 6 years, final expiry in March 2037
- Currently returning $153,920 p/a plus outgoings plus GST
- Separate access to ground floor and first floor
- Great signage - street verge and on the building

Call the sole agents today for an Information Memorandum:

Peter King-Turner: 027 439 5716
David Wards: 021 481 782

Agency reference #: L19374280
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Price by negotiation
Listed: Thu 12 Jul, 2:57 pm
Peter King-Turner
Haig Robinson Realty
  • Contact details
  •  (027) 4395716

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Advertiser's details

Peter King-Turner
  •  (027) 4395716
David Wards
  •  (021) 481782
Haig Robinson Realty
(09) 3522022
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Expires: Mon 10 Dec, 12:07 pm
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