Auckland accommodation portfolio - 10 year leases

9 Manukau Road, 373-375 Karangahape Road, City Centre, Auckland City

Tender

Proposed Usage
Hotel & Leisure
Floor Area
6328.85 m²
Land Area
1874.00 m²
Description:
Property ID
1c3cy2j

Bayleys Real Estate is pleased to offer for Sale by International Tender a portfolio of four fully leased investment properties in Auckland, underpinned by 10 years leases to an award winning accommodation and tourism company.

Available as one lot or individually, these properties are located in strategic locations in Central Auckland and Newmarket, in established and growing precincts. Offering a mix of character and modern buildings, these properties are underpinned by long term leases and offer purchasers a rare chance to invest in a key growth sector (accommodation and tourism).

Key Investment Considerations include:

• Four fully leased investment properties in Auckland Central and Newmarket
• Underpinned by 10 year leases to award winning company
• Available for purchase individually or in one parcel
• A mixture of modern buildings and seismically strengthened character buildings
• Returning between $165,000 + GST p.a. and $1,080,000 + GST p.a. with fixed growth provisions
• Strategic positions which will continue to flourish as this world class City further develops

The properties offered for sale are as follows:

9 Manukau Road - A 3 star boutique hotel offering 63 rooms, fully leased on a 10 year term, returning $578,596 + GST p.a. with fixed increases to approximately $740,000 + GST p.a. in December 2020.

2 Day Street - A brand new 11 level tower comprising 63 fully self-contained apartments, leased on a 10 year term returning $840,000 + GST p.a. with fixed increases to $1,080,000 + GST p.a. in October 2020.

373 Karangahape Road - A refurbished and seismically strengthened character building comprising a 4 level backpackers, fully leased on a 10 year term returning $165,000 + GST p.a with fixed increases to $190,000 + GST p.a in June 2022.

375 Karangahape Road - A refurbished and seismically strengthened character investment occupied by an award-winning restaurant, live music venue and character office space. The property is fully leased returning $232,600 + GST p.a..

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City Centre Area