Presenting Blockhouse Bay’s first commercial property to hit the market in 2021. The multi-tenanted, fee-simple property located at 527 Blockhouse Bay Road provides purchasers with the chance to acquire a split-risk asset with seven tenancies and add-value potential. The property is being sold by way of Auction at 11am, Wednesday 14th July 2021 (unless sold prior).
Consisting of three levels including retail, office and accommodation, the property returns a passing income of approx. $72,476 p.a. net + GST across six tenanted spaces with one first floor vacancy. The lease terms across the tenancies are short, providing flexibility to occupiers or incoming purchasers wanting to add-value.
Blockhouse Bay is a tightly held, popular town centre underpinned by the centrally located Primary school, Countdown Supermarket and public amenity on offer. Local businesses benefit from the high vehicular and pedestrian traffic with 527 Blockhouse Bay in particular being situated across the Road from the suburbs most popular cafe.
The opportunity will be popular for both investors and occupiers looking for a home and additional income. Rarely do assets in such unique locations, with spread risk qualities, in a cost effective price bracket enter the open market.
Please contact the Sole Agents for further information and inspection windows, by appointment only, today.
Features:
- Returning approximately $72,476 p.a. net + GST across six out of seven tenancies
- Split risk mixture of office, retail and accommodation
- Tightly held town centre location with low vacancy
- Add-value potential with flexible lease terms throughout
- Cost-effective price bracket for first time and experienced investors
- Ability for owner occupiers to take over tenancies in the short term
More information: https://www.colliers.co.nz/p-NZL67015312
