Leasehold auction

3, Southdown Lane, Penrose, Auckland City

Auction

Proposed Usage
Industrial
Description:
Property ID
1c5pfxr

• Ground lease auction
• Purchaser to pay $730,000 for improvements
• 970sqm standalone industrial building
• Central Penrose location

Parties will be bidding on the annual leasehold ground rent with a starting bid and reserve of $53,600pa, the successful bidder will have to pay a fixed price for improvements of $730,000. This is a 21 year lease term perpetually renewable and subject to 7 yearly reviews, the most recent being in 2016. Lease terms are available upon request.

The property comprises of a standalone industrial building with two levels of office accommodation and a 753sqm warehouse accessed by two roller doors at the front of the property, there is also a significant car park/yard to the front.

This property is located just off Great South Road, in a sought after industrial area.

Ben Bayley
021 537 503
ben.bayley@bayleys.co.nz

James Valintine
021 023 71868
james.valintine@bayleys.co.nz

Enquire about this property

Penrose Area