Investment with Automatic Growth
13, Aglionby Street, Melling, Lower Hutt
- Proposed Usage
- Floor Area
- 489.30 m²
- Auction Date
- 11:00 - Dec 07, 2017
- Property ID
Built in 1966 by innovative builder Ray Webby, the building is still rated at 67% of new building standard (NBS) with no subsequent structural alternations. Well suited to the requirements of its established tenant.
Goods access is by way of a large roller door, while the cleverly designed showroom frontage dominates the north end of the building frontage.
At close to 490m2 with four at door car parks, the building is well proportioned and well located, just off heavily trafficked Railway Avenue.
The location provides for easy motorway access via the Dowse and/or Melling Interchanges, a key driver to the success of many of the businesses in this busy precinct.
The sitting Tenant has recently renewed its lease. The rent was reviewed at that renewal and has been set to provide automatic growth. Currently set at $49,302 pa net + GST.
The next rental review in April 2019 increases by $5,000 plus CPI increase over the preceding two years.
This property offers simple, hassle-free investing with automatic rent growth in a market where such opportunities are rare.