AUCKLAND CBD FRINGE INVESTMENT OPPORTUNITY
10, South Street, City Centre, Auckland City
- Proposed Usage
- Floor Area
- 318.00 m²
- Land Area
- 357.00 m²
- Property ID
- Favourable city fringe location with excellent access to CBD and motorway
- Fully tenanted freehold investment property returning approx. $126,000 per annum + GST
- Secured long-term lease from brothel business as anchor tenant commencing December 2016
- Fully refurbished premises to meet tenant business
- NBS of A grade with seismic rating over 80%
Positioned at South Street, Newton, this city centre zoned property is in the middle of all trades, residential and commercial properties. City Centre zoning enables a wide variety of business activities and development potential, plays a significant role in Auckland's present and future success.
The commercial property is a freehold standalone building occupies land area of 357sqm and building area of 318sqm. Construction comprises an iron roof, concrete foundation, concrete block walls. It is fully renovated to meet tenants' needs. It is also strengthened with over 80% of seismic rating to meet tenants' needs, the New Building Standard rates this building as A grade.
With a new 10 years' lease from the main tenant, stable income from billboards
and 2 bedrooms flat, this property provides a superb split-risk investment opportunity in one of the most popular growing Auckland suburbs.