Freehold standalone investment
3, College Hill, Freemans Bay, Auckland City
- Proposed Usage
- Floor Area
- 672.00 m²
- Land Area
- 275.00 m²
- Auction Date
- 11:00 - Sep 18, 2019
- Property ID
• Meticulously refurbished City Fringe investment
• Features high profile ground floor retail, high stud 'loft-style' offices and basement carparking
• Fully leased to established tenants and returning $158,977 plus GST pa
• Attractive long-term leases featuring personal guarantees and automatic rental increases
A beautifully presented mixed-use standalone not to be missed. Simply sit back and enjoy the cashflow this bottom drawer investment provides.
The basement carparking and main road retail tenancy has been home to Boardertown since 2013. Boardertown, which has stores in the Botany Town Centre, Tauranga, Christchurch and Queenstown, has over 4 years left to run on its current term with rights of renewal to following. Its annual rental increases automatically by 4.0% bi-annually.
The upstairs office is also leased long-term with One to One Hundred Limited having a current lease expiry of August 2024. This lease also features automatic rental growth of 3.0% pa. This elegant space features polished wooden floors, an impressive stud height and skylights throughout. It would make for an absolutely stunning New York 'loft-style' apartment.
Investment opportunities in Freemans Bay, particularly ones of this calibre, are tightly held. Be sure not to miss this one.