Grunty cashflow from CBD car parks and office

20, Fitzherbert Avenue, City Centre, Palmerston North

By Negotiation

Proposed Usage
Floor Area
898.00 m²
Land Area
1512.00 m²
Property ID

• CBD car parking facility with tenanted office accommodation
• Annual net income $94,384.00 + GST when fully tenanted
• Fixed rental growth to $98,384.00 +GST from May 2019
• Geneva Healthcare and Fairfax New Zealand as national tenants

A first-rate, easy care investment with strong cashflow from professionally managed car parking. This may be considered as the ultimate passive investment with diversified risk.
Located within 80 metres of the heart of Palmerston Norths CBD The Square and surrounded by large office accommodation and retail properties, this inner city car parking facility is a welcomed solution.
Comprising of a total 44 car parks and an a tenanted office to Geneva Healthcare, this property produces an annual net income of $94,384.00 + GST based on full occupancy.
With national tenants in occupation, a superb CBD location and growing demand for car parking in the city, this is an investment that prints money.

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City Centre Area