Attention Investors or Future Owner Occupiers!
Unit X/691, Manukau Road, Royal Oak, Auckland City
Price On Application
- Proposed Usage
- Floor Area
- 175.00 m²
- Property ID
• High profile position with dual frontage to Manukau Road and Royal Oak Mall
• Long-standing tenant, Whitcoulls having occupied the premises since circa 1995
• Returning net $50,000pa + GST with a renewed lease from September 2017
• Neighbours include Pak N Save, McDonald's, ANZ Bank, Z Petrol Station, Wendy's, TAB, Subway, OPSM & more
Offered to the market is a freehold retail investment well-situated in the Royal Oak Shopping Mall. Occupied by Whitcoulls, the property receives dual exposure, with a wide frontage along Manukau Road as well as inside the mall. One of the longest-running businesses in Royal Oak Mall, Whitcoulls is a major national retailer with 52 stores across the country, having been originally founded 130 years ago.
Royal Oak Shopping Mall is well-located in the heart of Royal Oak near Epsom and One Tree Hill, close to 10 minutes drive to Auckland's CBD. Recently refurbished, the mall consists of circa 68 shops, open 7 days a week. Ample car parking is available, comprising 778 spaces, covered and uncovered, with main road access points along both Manukau Road and Mount Albert Road.
At this price level, this would represent an approximate 7% return - a rare opportunity to acquire a well-performing investment with add value potential. With the lease expiring in 2020, this provides an opportunity for the incoming owner to negotiate a new lease term with this long-standing tenant, consider an alternative tenant, or potentially look to utilize this quality unit for themselves.
Asking Price $715,000 + GST (if any).