163 Devon Street East presents an opportunity to acquire a significant land holding on a prime CBD corner, benefitting from multiple income streams and huge future development potential.
The two storeyed building was constructed in 1925 covering a site area of 1,139 sqm (held in two titles) and comprising a net lettable area of 2,550 sqm. The property is fully leased to five tenants, including a billboard, currently returning $126,200 p.a. plus GST.
This is an exciting opportunity for a developer to take advantage of a prime site with great holding income.
The property is well located, fronting to New Plymouth's primary retail strip and Gover Street. It is surrounded by a mix of quality hospitality and retail businesses in a growth area, characterised by minimal vacancy.
RV: $1,270,000 (Effective 2019)
Council Rates: $27,377.63
Seismic Rating: 13% - 19% NBS (E Grade)
Council Zoning: Business A
The property is for sale by way of expressions of interest.
For more information or to arrange an inspection contact:
Benet Carroll
021 028 94537
benet.carroll@colliers.com
Please note: all floor areas are approximated only.
Features:
- 1,139 sqm corner site
- NLA: 2,550 sqm
- Passing Income: $126,200 p.a. plus GST
- 100% occupied - 5 tenants
- Massive redevelopment potential
- Prominent CBD location
More information: https://www.colliers.co.nz/p-NZL67020178
