Investment with Upside

390-422, East Street, Ashburton City, Ashburton

Auction

Proposed Usage
Retail
Description:
Property ID
1bz79gk

Auction
(unless sold prior)
12pm, Fri 8 Sep 2017

- 1329sqm building on 994sqm freehold land
- Leaseback to NZ Post and Kiwibank
- Two first floor casual tenancies
- 396sqm vacancy opportunity

Situated on a high profile corner of Ashburton's main street the property returns a current net rental of $53,457 per annum with the vacant area potentially lifting the net rental to over $90,000 per annum. Longer term redevelopment options should also be considered such as a commercial/residential mix or complete conversion for commercial accommodation.

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Ashburton City Area