Strengthened character building on 10 year lease
373, Karangahape Road, City Centre, Auckland City
- Proposed Usage
- Hotel & Leisure
- Floor Area
- 805.00 m²
- Land Area
- 232.00 m²
- Property ID
Bayleys Real Estate is pleased to offer for Sale by International Tender, 373 Karangahape Road, Auckland Central.
Key Investment Details:
â¢ Seismically strengthened character investment property
â¢ 10 year lease to award winning accommodation and tourism tenant
â¢ Returning $165,000 + GST p.a. with fixed increases to $190,000 + GST p.a. in June 2022
â¢ Strategic central City position in heart of K' Road entertainment precinct
â¢ Available for purchase individually or as part of 4 property investment portfolio
373 Karangahape Road comprises a four-level character commercial investment property, located in a high profile position on Karangahape Road in Auckland Central. The building has recently been extensively refurbished and seismically strengthened and is now fully occupied by a high end backpackers (Haka Lodge Backpackers)
The property is leased on a 10 year initial term with rights of renewal, generating a current income of $165,000 + GST p.a. with fixed rental increase provisions to $190,000 + GST p.a. in June 2022. The property is strategically located for public transport links and provides easy walking access to the Auckland Central Business District, along with all of the Central City amenities and attractions which are sought after by occupants of the Haka Lodge.
Grab this chance to secure an immaculate bottom drawer character investment property in an established and thriving precinct.
373 Karangahape Road is available for purchase individually, or as part of a 4 property investment portfolio, details of which can be found at: www.bayleys.co.nz/1686639
For further information, please contact the below Sole Agents:
027 600 4712
021 934 054
022 420 6845