THE HOMESTORE, BROADWAY, NEWMARKET

153-187, Broadway, Newmarket, Auckland City

$4,100,000

Proposed Usage
Retail
Floor Area
539.00 m²
Description:
Property ID
1bstpdx

Fully leased, secure investment returning $251,996 + GST net per annum with guaranteed built-in rental growth and strong tenant covenant through to June 2022.

This property offers a low risk asset delivering strong revenue and guaranteed growth. Located at 153-187 Broadway, The Homestore holds a coveted and strategic position in the heart of the Rialto Centre. The Homestore is the largest retailer in the Rialto shopping complex, which links Broadway to the vibrant Osborne/Teed Street precinct. This commanding position is in the centre of Newmarket, one of Auckland's most sought after retail destinations. Surrounded by a mix of upmarket stores, cinemas and both national and international retail brands, the property is immediately adjacent to a controlled pedestrian crossing, which channels high levels of foot traffic to and from Broadway, Osborne and Teed Streets.

As a major commercial and retail hub, Newmarket enjoys excellent levels of accessibility and inter connectivity to the rest of the Auckland Region. The Newmarket train station and Newmarket bus interchange are both situated less than 100 metres from the property. Three large public car parking facilities are also located within a five minute walk, with on-ramps to the Northern and Southern motorways less than one kilometre away.

• Fully leased and generating net income of $251,996.00 p.a. +GST
• Fixed annual rent increases of 3%
• 540m² total net lettable area (over 2 units)
• Expansive retail presence
• Located within the well-known Rialto Centre complex
• Low risk, long term investment with growth

The property comes with a highly reputable, long-term tenant committed to fixed annual rental increases through to 2022. Sit back and passively collect the rent. Call us now for more information.

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Newmarket Area