Listing #:1727157104

Right royal investment

Location: 241 Devon Street West, New Plymouth, Taranaki
Property use: Office
Floor area: 620m2
Price: To be sold by auction on 7 Sep
Asking price plus GST (if any).
Located 1km west of the New Plymouth CBD, the property is situated on the corner of Devon Street West and Mt Edgecumbe Street and has been a liquor outlet for over 20 years. Currently leased to Lion Liquor Retail Limited (t/a Liquor King) on a five year lease commencing June 2016 currently returning $64,500pa + GST with rent reviews every three years and five rights of renewal of three years, final expiry June 2036.
The building was recently strengthened and now has a 67% NBS rating (Cat B).
The property occupies a 2092sqm (more or less) corner site over two freehold titles with access of both Devon Street West and Mt Edgecumbe Street. The building has an approximate footprint of 619sqm and up to 20 off street car parks are available.
This is a superb opportunity to secure a prime, low risk investment property that will provide greater returns than current bank interest rates.

Agency reference #: 522714
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To be auctioned
241 Devon Street West, New Plymouth, New Plymouth, Taranaki
To be auctioned
Listed: Wed 8 Aug, 4:22 pm
Alan Johnston
Bayleys Taranaki, Licensed Agent (REAA 2008)
  • Contact details
  •  (06) 7595282
  •  (027) 2930762

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Agent's details

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Alan Johnston
Iain Taylor
Bayleys Taranaki, Licensed Agent (REAA 2008)
(06) 7590415
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Expires: Fri 12 Oct, 11:08 am
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