221-225, Hinemoa Street, Birkenhead, North Shore City
Price On Application
- Proposed Usage
- Floor Area
- 522.00 m²
- Property ID
- For sale - $3,800,000 + GST
- Mixed use investment with potential rent roll of $173,264pa*
- Award winning medi-spa/beauty salon on new 5 year lease
- Immaculate 3-4 bedroom penthouse apartment with panoramic views
- Fee simple estate with future development potential
- Ample on-site parking with 13 car parks (6 secure undercover)
A truly unique opportunity to secure a prime mixed use property in the increasingly popular Birkenhead Town Centre. The area has undergone significant transformation in recent years with a move to a more vibrant and trendy tenant mix and is set to further benefit from a number of new residential developments which are in the pipeline. The new Town Centre Zoning under the Auckland Unitary Plan has served as a catalyst for much of this and will add future value to the subject property.
The ground floor is fully leased to The Elements Medi-Spa & Beauty with a net return of $122,304pa. The Elements has occupied the property since 2004 and has built a solid reputation as one of the premier operators in the beauty industry over that time.
The first floor comprises an elegant 3-4 bedroom apartment with a total footprint of 230sqm (including balconies). Made up of 3 bedrooms, a study or 4th bedroom, 2.5 bathrooms, kitchen/dining and substantial lounge area, there is ample room to entertain and accommodate family and friends. A recent rental appraisal indicates the apartment could be rented out for $980 per week offering the new owner a premier split risk investment with an excellent return.
*The property has a current rental of $122,304pa with potential to increase this to $173,264pa through leasing the upstairs apartment..