Highly Motivated Vendor Demands Action!

36, Munroe Street, Napier South, Napier

Tender

Proposed Usage
Office
Floor Area
3688.00 m²
Land Area
1152.00 m²
Description:
Property ID
1bzlxs5

Invest in the ongoing success story of the Hawke's Bay region with these diverse units situated in
an iconic modern office complex. Home to Price Waterhouse Coopers and a host of other national and local businesses the property sits on a prominent, fringe CBD corner and is located directly
opposite one of Napier's busiest supermarkets.

-Four of five unit titles comprising 97.48% of the building's total unit entitlement offered for sale
-Purchase individually or a combination of available units
-Attractive five level commercial building located on a prominent corner site
-Approximate total net passing income of $496,064 p.a with a current occupancy rate of 93.7%
-Weighted average lease term approximately 3.2 years
-Approximate land area 1,152sqm
-Approximate total rentable floor area 3,688sqm
-Seismic Rating 89% NBS
-33 on-site carparks (30 covered)

24 tenancies in place, spread over four unit titles.

-Unit 1 (Ground and 1st Floor excluding units 1 and 3) has 12 tenancies with a net passing income of $161,929 p.a
-Unit 2 (Ground Floor) is a single tenancy with a net passing income of $31,160 p.a
-Unit 3 is owned separately and is excluded from this sale
-Unit 4 (Second Floor) has nine tenancies with a net passing income of $107,207 p.a
-Unit 5 (Third Floor) is a single tenancy with a net passing income of $195,768 p.a

Our client's instructions are clear - bring all offers for consideration.

Further details upon request.

Tenders Close 4pm, Thursday 2nd November 2017 at the Daily Telegraph Building, 49 Tennyson Street, Napier.

Enquire about this property

Napier South Area