Drive Your Investment Portfolio
738-742, Great South Road, Penrose, Auckland City
- Proposed Usage
- Floor Area
- 596.00 m²
- Land Area
- 3962.00 m²
- Property ID
Enquire about this property
FOR SALE BY AUCTION at Level 27, 151 Queen Street, Auckland CBD, Wednesday 11am 4th December 2019 (unless sold prior)
- New 8 year lease returning $326,320 net p.a plus GST
- Fixed annual rental increases
- Bank guarantee
- 3,962m² freehold site
- Future upside
Add this strategic, high profile Penrose trophy asset to your portfolio. This long-term investment is offered to the market with an 8 year lease in place returning $326,320 net p.a. Fixed annual increases and a bank guarantee make this the perfect investment for Purchaser's looking for passive income and future upside. The Tenant has been in the car industry for over 30 years and is very well-known in the industry. The 3,962m² Light Industry zoned freehold site benefits from unbeatable profile with close to 30,000 cars passing the property daily. The buildings themselves are modern and have been maintained to a very high standard. The yard is fully sealed and secure with a wide street frontage to Great South Road. A large billboard is also situated on-site, generating additional income.
With opportunities like this pretty much non-existent anymore in Penrose, the incoming owner will be acquiring a property with endless development opportunities in a high profile and sought after location.
This site is prominently positioned on Great South Road in Penrose, sitting right on the Great South Road/Station Road intersection. Access to State Highway 1 is literally 800m away and the Penrose Train Station is a mere 400m away. This location is a highly sought after location amongst industry, automotive and retailer operators - it's future looks to be as prosperous as it's rich history.
Viewings are strictly by appointment only.
Hamish West - 021 882 737
Paul Higgins - 021 549 226
Ben Cockram - 021 245 5855