10%> OPPORTUNITY - JUST MAKE AN OFFER
4/18, Beach Road, City Centre, Auckland City
Price On Application
- Proposed Usage
- Floor Area
- 461.29 m²
- Property ID
- ASKING PRICE REDUCED was $1,400,000 now $1,300,000
- Below valuation opportunity - just make an offer!
- High profile CBD retail unit with dual street frontages
- Multi-tenanted & fully leased with two new 5 year leases
- Returning circa $127,987 p.a. net ($180,976 p.a. before ground rent)
- Superb location near Britomart and Vector Arena
- Approximately 461.29sqm Leasehold title with six secure covered car parks
Sick of sub 6% yields, take a look at this healthy return!
The current vendor has done all the hard work and signed up two new 5 year leases, now you can sit back and enjoy the cashflow.
The unit is in an excellent CBD position midway between Britomart and Vector Arena on the ground floor of the well-known Scene Two apartment building. In this position it enjoys high levels of exposure and foot traffic and, with the apartments above, an immediate consumer base for the tenant's businesses.
The tenancy with frontage onto the busy Beach Road is an established Korean restaurant measuring approximately 120.72sqm, returning $73,690.43 per annum. The tenancy with frontage onto Scene Lane is a new Chinese Restaurant weeks away from completing their brand new fit-out and returns $107,286 per annum. This tenancy measures approximately 340.57sqm, however in addition to this area the tenant also enjoys exclusive use of a north facing balcony. There are six secure covered car parks, two of which have not been leased providing an opportunity to further increase your return.
The instructions from the vendor are clear, they want this sold. Registered valuation available on request to assist with your due diligence.
Call now to discuss your offer!