AN INVESTOR'S DREAM - 6.75% YIELD
3D & 3E/153-187, Broadway, Newmarket, Auckland City
- Proposed Usage
- Floor Area
- 540.00 m²
- Property ID
With a highly reputable, long-term tenant committed to fixed annual rental increases, sit back and passively collect the rent.
This is a secure investment returning $259,982 + 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 Rialto. The Homestore is the largest retailer in the 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 up market 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.
Key features include:
• Fully leased and generating net income of $259,982.79 + GST p.a.
• Fixed annual growth
• 540m² (more or less) total net lettable area
• Potential to subdivide into two separate units
• Expansive retail presence
• Low risk, long term investment with growth
Please contact Andrew Clark on 021 500074 for a detailed Information Memorandum.