A split-risk investment with three income streams and two titles, located on the ever-popular Carlyle Street in Napier.
This property returns approximately $90,000 net per annum and is believed to have further rental upside. The Fringe Commercial zoning allows for multiple future redevelopment options including potential first floor apartment conversion (subject to Council approval). Separate access off Craven Street to the first floor further enhances this option. A 90% NBS rating and nine onsite car parks give this commercial investment strong fundamentals.
In a busy street full of foodies, car yards and national retailers, the familiar surrounding brands are testament to the strength of the location. Overall, this offering provides a blend of yield for the short term and add-value for the future.
The Information Memorandum is available for download via the secure documents link at https://www.colliers.co.nz/p-NZL67013807.
Features:
- Land area 996m²
- Floor area 1020m²
- Desireable location
- 90% NBS rating
- Approximately $90,000 net rental income
- Three income streams
More information: https://www.colliers.co.nz/p-NZL67013807
