Flagship investment - fully leased
58, Langdons Road, Papanui, Christchurch City
Price On Application
- Proposed Usage
- Floor Area
- 663.50 m²
- Property ID
A solid leased investment for your portfolio. This new two level building has 663.5sqm of lettable space with 16 sealed car parks and occupies the most prominent corner at the entrance to Northfield Business Park. Designed by Wilson and Hill Architects, the building stands on its own 1,101sqm freehold title and comprises four individual self contained tenancies to provide maximum flexibility of use. Three tenants (one tenant occupies two units) mean a spread of risk with staggered renewals and a WALT of 6.75 years. Total net passing income of $203,787pa* rising to $216,155** by year five.
This location continues to grow as a commercial centre as seen in the Northlands Mall expansion and a new bulk retail centre adjacent which is driving new levels of traffic on Langdons Rd, providing opportunity for additional profile for this highly visible corner site.
*Set annual increments for Unit A to year five
**Annual rental including subsidies
Call the sole agent now for further details and an opportunity to view.