Listing #:1697542590

Part-tenanted investment with massive upside!

Location: Penrose, Auckland City, Auckland
Property use: Office
Floor area: 588m2
Price: To be sold by deadline sale (by 8 Aug)
For Sale by Deadline Private Treaty closing 4pm, 8th August 2018 (unless sold prior)

Located on a key thoroughfare just off Great South Road in Northern Penrose, this property will appeal to a number of different purchasers. The property consists of 588sqm floor area within a three level office building and comprises approx. 50% of the second floor. The unit is currently split into two tenancies: The first being fully leased on a fixed term while the second tenancy is currently occupied at a Peppercorn rental on a casual basis. This opens up the opportunity for an owner-occupier to occupy half the property while receiving a passive income or for an add-value investor to lease the vacant space and realise a potential return upwards of 8%!. Please get in touch with one of the listing agents for more information or to arrange an inspection.

Key Features:

• Strata office title split in to 2 tenancies
• 293sqm Space returning $44,219 net pa
• 295sqm Vacant space (month-to-month currently paying peppercorn rental)
• 17 Allocated onsite carparks
• Appraised net rental @ $110,000 - $130,000 net p.a
• Potential return upwards of 8%
• Extensive chattels included in sale

Penrose is a highly desirable industrial area which benefits from its close proximity to both the CBD and Auckland International Airport, being located within 14kms of each as well as being situated next to the Inland port gives the area huge benefits for freight & manufacturing businesses servicing the entire Auckland region. Church Street, Neilson Street and Great South Road serve as the areas main arterials with access to SH1 and SH20 via each of them.

For more information or to arrange a viewing call or email Auckland Industrial Sales & Leasing specialists:

Alistair Billing
021 101 5302
alistairbilling@jamesgroup.co.n­z

Ben Adam
021 209 1339
benadam@jamesgroup.co.nz

NOTE: All prices are exclusive of GST unless otherwise stated.

Agency reference #: JG19135
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Deadline sale
Listed: Fri 13 Jul, 11:50 am
Alistair Billing
James Group Limited , Licensed Agent (REAA 2008)
  • Contact details
  •  (09) 2539330
  •  (021) 1015302

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Agent's details

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Alistair Billing
Ben Adam
James Group Limited , Licensed Agent (REAA 2008)
(09) 2539330
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Expires: Mon 10 Sep, 10:10 am
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