Colliers is delighted to present this high-quality corner profile commercial land holding with a secure holding income situated within the heart of the popular Sydenham commercial hub.
The site has been home to Mobil for the last 28 years, sitting proudly on an exceptional corner site in Sydenham. Our understanding is that Mobil have completed a recent replacement of the underground tanks in 2015 at the same time the neighbouring retail development was completed.
The property is strategically placed next to two blocks of well performing single level retail shops with a total of seven retail tenancies all fully leased that complement the service station offering well.
The opportunity of the investment lies in the underlying land holding of circa 3,340sqm which underpins the investment significantly. The current site coverage ratio is 13% being only the shop and the canopy meaning the site is currently well underutilised.
This offers the astute investor the opportunity to maximise the site and add value with development opportunities in the future.
The site is extremely well located in Sydenham with two street frontages at the intersection of Colombo Street and Huxley Street.
The property has a current net income of $160,000 + GST + OPEX.
For the discerning investor, this presents an opportunity to acquire a high-quality, well located, investment secured by quality tenant with promising potential for future growth.
Enquiries of $3,000,000 + GST (if any)
*Boundary lines are indicative only.
Features:
- Two street frontages
- Prime corner site
- Future add value opportunities
- Established & popular Sydenham location
- Low site coverage circa 13%
- Substantial site area – 3,340 sq m
- Quality international tenant Mobil
- High profile easy access
- Significantly underpinned by land value
- Good surrounding amenity
More information: https://www.colliers.co.nz/p-NZL67036311
