Character Heritage Standalone Building, Auckland CBD, Fully Leased, Prime Location

This is a unique opportunity to purchase a stand-alone, freehold building in the Auckland CBD, at an affordable price, can be as an investment property or become your city apartment with commercial tenancies in place providing strong return on your investment.

Situated on a very busy location, 97-99 Karangahape Road, prime location for commercial tenancies and close to the new rail links, fully leased returning (around a 5-6% yield), gross rental income more than $160,000 including GST.

Mixed tenancies leased separately to collectively provide a diverse strong rental base with the return from two ground floor commercial units and first floor accommodation.

Fee Simple Freehold Title
Ground Floor Retail/Commercial Spaces Accessed from Karangahape Road
Apartment accessed from Karangahape Road
Building is approximately 155 sqm
Land Area approximately 177 sqm
CBD Metropolitan Centre Business Zoning
Pedestrian or service access is possible from the rear from City Road

This property is positioned between Upper Queen Street and Symonds Street, and benefits from the exposure from the visibility of a high traffic flow area from the commuters travelling in and out of the city and the new City Rail network as the new Beresford Square Station is within a few minutes’ walk.

The Karangahape Road and surrounding area has undergone significant re-gentrification and is widely considered as the cultural heart of Auckland Central and is a sort after location for entertainment and hospitality. Making this a destination address for many city visitors.

Demand for property in this area is strong and is expected to increase with the Government City Rail Network investment of more than 3.4 billion to build and develop Beresford Square Station and surrounding area.

The rail system will provide a fast and reliable transport link from the City to the Southern Suburbs and increase the revenue for the local tenancies for strong long-term investment and potential growth.

The current three tenancies include:

Sushi & Chicken Shop
Vietnamese Cafe/Restaurant
Huge 3 Bedroom City Apartment

All tenants have sound leases in place, your rental return across all three tenancies so therefore offers more security for your investment.

Marketed with Price Expressed as By Negotiation (inc GST)
(With the current rental income projecting a yield of 5 to 6% would mean an estimated value between 2.7m to 2.9m including GST, however with the City Rail Link project investment increasing demand for investment property in this area the end value may well be +3 million)

For more information and to book your private appointment to view contact:

Stephen Hudson
0274 746 774
REA Licensed & MREINZ

Or

Jonathan Hudson
027 566 2842
REA Licensed & MREINZ

• State/County Auckland
• Zip Auckland
• Country New Zealand

• Estate Fee Simple

• Property Id 1000087
• Property Size 177 sqm
• Bedrooms 3
• Bathrooms 1
• Estate Fee Simple
• Size-units m2
• GST applied? Yes
• Property Listing Status For Sale (By Licensed Agency)

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