CORNER SITE IN EDEN TERRACE
37, Virginia Ave East, Eden Terrace, Auckland City
- Proposed Usage
- Floor Area
- 194.00 m²
- Property ID
Located on the corner of Virginia Avenue East, a one-way avenue which connects New North Road to Charlotte Street. 37 Virginia Avenue East comprises a 194.6m² single level warehouse conversion to character studio/office space on 625m² of freehold land. Polished wooden flooring, open truss ceiling and flooded in natural light. The balance of the site provides 15 on-site car parks.
The entire building plus five car parks is leased to Fergus Software Limited until 14 February 2018 as the tenant has given written notice that they will not renew the lease. The remaining 10 car parks are leased to OCS NZ Limited until 31 May 2018. Total net income $70,629 p.a. + GST (NET).
Due to the short-term nature of the occupancy this property is suitable for owner occupiers or investors in a city fringe market with ever shortening supply of small standalone buildings. Alternatively, a developer could take advantage of the unobstructed north-western outlook and Mixed Use zoning for apartment development. The adjoining property at 35 Virginia Avenue East is also for sale providing a combined land area of 997m².
Not to be overlooked, call now for details.
• Invest, occupy or development opportunity
• 625m² freehold land zoned Mixed Use under Unitary Plan
• Tightly held Eden Terrace location
• Corner site with north-western outlook
• Adjoining property also for sale