55, Customs Street East, Auckland City

By Negotiation

Proposed Usage
Floor Area
656.00 m²
Property ID

This high quality trophy property consists of a highly visible 656m² building on the ever improving Customs Street thoroughfare. The position, 150 metres east of Queen Street, enjoys the benefits of substantial foot traffic from Britomart train station and quality retail offerings, office workers and both cruise ship and hotel patrons. The area is on the improve with four large scale developments planned nearby.

The three level building has recently undergone a substantial upgrade bringing the earthquake rating to 75% of New Building Standard. Leased to a single hospitality tenant long term the lease includes both CPI (2018) and market (2020) rent reviews throughout the term providing strong prospects for rental growth in this ever improving location.

55 Customs Street East offers sound investment fundamentals with a sought after CBD address, with future potential not to be overlooked.

Investment highlights include:
• Highly visible 656m² building
• Massive exposure to vehicle and foot traffic
• Located near Britomart, ferry terminal, hotels and large scale office buildings
• Long term lease to successful established business
• Both CPI (2018) and Market (2020) rent reviews
• Improving location with several new developments planned
• Refurbished and strengthened (75% NBS) building

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Auckland City Area