GOLDEN MILE - Superb Investment Property

200, Hardy Street, City Centre, Nelson

Auction

Proposed Usage
Office
Floor Area
550.00 m²
Land Area
278.00 m²
Description:
Property ID
1c09gl9



Nelson is one of the fastest growing cities in New Zealand, an affluent sea side city with booming primary industry, tourism, population growth and a surging economic base. Location is key to a good commercial property investment, Nelson is an investment hot spot right now.

200 Hardy Street enjoys a prominent position on a corner site in the heart of Nelson's bubbling hospitality and retail precinct. The sight lines through to the main Trafalgar Street intersection are fantastic, ensuring the long term leasing of this site. The building enjoys a northerly outlook with a classic Art Deco style. 

Restaurants are thriving as Nelson secures a strong foothold on the international and domestic tourism routes, supported by the local population growth. The substantial new restaurant on the ground floor is one of six operated by the owners throughout the top of the south. The lease is a new 10 year term and the business owners have completed a bespoke fit out to a very high standard.

Up on level one, Nelson Tasman Kindergartens have just uplifted their first renewal, committing to a further three year term with a 3 year ROR to follow. There are several smaller tenants to complete the occupancy of the area available on Level 1, all of whom are well established in the building.

In 2014 the building was gutted on the ground level and a new floor poured incorporating a structural upgrade to an excess of 85% NBS. The opportunity was also taken to install a plumbed in slab heating solution.

With a total revenue a shade under $120,000, an 85% NBS, fully leased, 10 year term on the anchor tenancy and a superb location in a booming town, this investment property should be on every astute buyers list to inspect.  

To be Auctioned - 15th December 2017, 1.30pm at The Aurora Lounge, Nelson Yacht Club, 322 Wakefield Quay, Nelson

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City Centre Area