Morningside Split Risk Investment
586-592, New North Road, Kingsland, Auckland City
- Proposed Usage
- Floor Area
- 292.00 m²
- Land Area
- 429.00 m²
- Auction Date
- 11:00 - May 15, 2019
- Property ID
• Standalone commercial buildings on 429sqm freehold land
• Split risk investment with multiple holding income of approximately $90,000 pa
• Excellent wide shop frontage & north facing site
• Relatively shorter leases providing flexible options for both developer & add value investors
This freehold site comprises of two retail buildings in the front and a 3-bedroom house attached at rear, providing multiple income streams from local bakery, convenience store and a residential tenant.
Situated at the Western end of Kingsland town centre and along busy retail corridor, 586-592 New North Road is superbly located in one of Auckland's most coveted suburbs. In recent years Kingsland/Morningside has become a vibrant and lively destination with residents able to enjoy a mixture of quality food and beverage offerings, local retail and commercial services.
With close proximity to key public transport hubs the subject property provides versatile options with favourable zoning and options for future development.