Motivated Vendor Offloads Newmarket Portfolio!

5P, 5I, 5C/153, Broadway, Newmarket, Auckland City

Price On Application

Proposed Usage
Retail
Floor Area
99.00 m²
Description:
Property ID
1bs6786



VENDOR SAYS SELL!

Affordable Portfolio of 3 hospitality units in the iconic Rialto centre in Newmarket's retail precinct. For sale by Expressions of Interest closing 2nd March 2017 (Unless sold prior)

A golden opportunity to add value and maximise this portfolio’s untapped income potential.

+ Net rent of $ 94,140.72 p.a.
+ Upside Potential to add $24K net p.a. to income
+ 1st Unit - $ 69,221.92 net p.a. from tenant since 1997
+ 2nd Unit - new 3 x 3 x 3 lease netting $ 24,918.84 p.a.
+ 3rd Unit - vacant and can be fitted & leased out at approximately $24K net p.a.

Sought after Newmarket location at Broadway and Khyber Pass intersection. Rialto Centre with high occupancy rates and multiple blue chip tenant including Rialto Cinemas, Cotton On, Bendon, ANZ bank ATM, Specsavers. SUBWAY and Nando’s amongst the hospitality tenants in the 4,048 sqm Centre. Plenty of foot traffic from cinema goers, retail shoppers, approximately 20,000 office workers in Newmarket and growing number of students from the University of Auckland’s new 5.2-hectare campus across Khyber Pass road.

For Sale by Expressions of Interest closing at 5pm, Thursday, 2nd March 2017 (Unless sold prior). Contact the Sole Agent for an information pack.

Enquire about this property

Newmarket Area