NEWMARKET INVESTMENT / FUTURE DEVELOPMENT
Newmarket, Auckland City
- Proposed Usage
- Property ID
If you assess your property buying based on address and location, then this is hard to beat. The property has pride of place in an exclusive strip of only four properties, situated between the recent large-scale commercial office development occupied by Watercare and the St Marks Anglican Church to the east. Visibility and presence to the street is excellent. The site frontage sits on-grade with Remuera Road and drops away easily to the rear, which will in the future hugely assist in the site excavation and development.
The two storey house has six tenancies in total with a term commercial lease in the main ground floor premise and five residential occupiers. The existing terms of the residential allow for vacancy and occupation, primarily of the first floor, earlier in 2019.
• Fee Simple (freehold) land are of 544 sq metres
• Business - Mixed Use zone with a 27 metre height control, subject to Volcanic cone sight lines
• Income $122,000 pa (approx)
• Split income stream with good potential for owner occupation
• High visibility property
• Only minutes walk to Broadway and the new Westfield
• 200 metres to the Newmarket train station.