Multi-tenanted retail investment
45, St George Street, Papatoetoe, Manukau City
- Proposed Usage
- Floor Area
- 200.00 m²
- Land Area
- 228.00 m²
- Auction Date
- 11:00 - May 16, 2018
- Property ID
- Affordable freehold standalone investment with two tenants occupying four shops
- Land area approx. 228sqm; floor area approx. 200sqm
- Total annual net rental $44,869 + GST
- For sale for the first time in 21 years
- Well-positioned in the heart of the Old Papatoetoe Mall/New World redevelopment
An excellent opportunity to purchase this affordable split risk retail investment in the heart of Papatoetoe. The building is occupied by two tenants, Papatoetoe Roast and Pasifika Pawnbroker, both on renewed leases from 1 April 2018. Both tenants occupy two shops each, offering future add value potential.
Fronting the busy St George Street, the property is located next to Papatoetoe Town Hall/Citizens Advice Bureau, and situated in the immediate vicinity includes a range of retail and commercial businesses, including BNZ Bank, ANZ Bank, Domino's and Papatoetoe Library. The location benefits from easy access to the Motorway, approximately 5 minutes drive away.
Panuku Development Auckland is undergoing a major renovation project in the immediate area, with key projects including the upgrade and expansion of the nearby Old Papatoetoe mall and the New World Supermarket - situated directly behind the property and set to revitalise and strengthen the town centre.