7.5% Return with Upside

56, - 60 Munroe Street, Napier South, Napier

$1,665,000

Proposed Usage
Retail
Floor Area
910.00 m²
Land Area
1140.00 m²
Description:
Property ID
1c3p1kk



56-60 Munroe Street, with Architectural Award Winning frontage, stack up as both a passive investment and an opportunity for growth/upside. The property has 5 tenancies and is on 3 separate titles returning approximately $125,000 net per annum. The anchor tenants are all very well established in this location, which is expected to see considerable growth with the proposed Large Format Retail development for the neighbouring 1.2ha bare land site, which may soon become the new home to Briscoes and Rebel Sport. The buildings enjoy rear access and loading via a service lane. Leases feature a renewed 3 year lease to DTS and a 5 year term to Copas P&E. Enjoy the best of both worlds, with positive cashflow in a location forecasted for growth. 

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Napier South Area