Multi Tenanted Investment Built in Rental Growth
100, Queens Road, Panmure, Auckland City
- Proposed Usage
- Floor Area
- 1701.00 m²
- Land Area
- 979.00 m²
- Auction Date
- 11:00 - Oct 25, 2017
- Property ID
- Multi tenanted retail/commercial investment
- Prime location on the main street of Panmure
- 979sqm freehold site
- Potential for residential conversion
- Net Rental $131,181p.a. plus GST (as at 31/10/17)
- April 2018 Net Rental $139,432 p.a. plus GST
Located on the main street of Panmure, the subject property consists of a 979sqm freehold site together with a two level retail building with a central retail shopping arcade on the ground level and commercial premises on the first floor. There are 12 tenants occupying a net lettable area of approx. 1,400sqm with a net rent return of $131,181 p.a. plus GST (as at 31/10/17).
Based on the lease contracts the net rental will increase to $139,432 p.a. plus GST by April 2018.
This outstanding investment offers secure income with built in rent increases and long term potential for residential conversion under the Town Centre zone of the Proposed Unitary Plan.
Exceptional split risk investment with built in rental growth and long term residential redevelopment potential.
For Sale by Auction 11:00am, 25 October 2017
Bayleys House, 30 Gaunt Street, Auckland Central.