Bite Sized Investment with Upside - Onehunga
34, Princes Street, Onehunga, Auckland City
- Proposed Usage
- Floor Area
- 405.00 m²
- Land Area
- 627.00 m²
- Property ID
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Rare opportunity to secure a bite-sized investment with re-development upside located in the highly sought after mixed use zone of Onehunga.
- 627sqm mixed use Freehold title
- 405sqm net lettable area
- Affordable price bracket
- 75% NBS (Earthquake Rating)The building itself features 341sqm of generic warehouse and 63sqm of tidy office/amenities sitting on a 627sqm mixed use freehold title. The IEP Report (Earthquake Rating) came in at 75%NBS. Generically configured, its overall size and warehouse-office ratio is in huge demand by occupiers at present, with little to no supply in this size and price range.
The tenant is well-established and has been in occupation of the building for 3 years. Most of the in-built offices are owned by the Tenant and will be removed if they vacate. It is currently under-rented, but a market rent review due 1 June 2017, allows for the new Purchaser to negotiate additional value. All lease information as well as recent lease transactions in the area will be provided upon request.
Being located in Onehunga's mixed use zone is another standout feature of this property. The re-development opportunities that this zoning allows, create significant future upside - permitting industrial, residential or commercial uses. Further information on this zoning will be provided.
This is a must view for both first time and experienced investors. Call now for all due diligence information, and to book a viewing.