Asking price of $2,240,000 + GST (if any) - SOLE AGENCY
Secure your stake in one of East Auckland’s most prominent locations. This 552sqm investment property is fully leased to two tenants, returning $134,675 net p.a. The anchor showroom/warehouse tenant occupies the ground floor on a secure lease through to August 2029, with the space extensively refurbished in 2023 on a very favourable lease structure that includes a six month rent bank guarantee as security. The first floor office tenant has occupied this tenancy for many years and pays $25,000 net p.a.
The building is functional, featuring road frontage and dual access, and was renovated in 2023. The net lettable comprises of 334sqm warehouse, 109sqm showroom and first floor separate office tenancy of 109sqm. 10 allocated carparks are also included.
Ti Rakau Drive is one of Auckland’s busiest arterial roads, attracting over 10,000 vehicles daily. Its strategic location near Botany, Flat Bush, Pakuranga, and close to Highbrook, SH1, and Route 10 ensures excellent connectivity for businesses and access to key staff catchments. The property also enjoys proximity to major industrial hubs such as Wiri, Auckland Airport, and Mt Wellington, enhancing its appeal.
With an asking price that reflects a very attractive 6% yield, this is a rare opportunity to secure a modern, income-producing asset with strong tenant covenant and high exposure on Ti Rakau Drive. Contact the Sole Agents Now.
Features:
- Two tenancies with a long term lease to head tenant; Abundance East Trust
- Returning $134,675 net p.a. + GST
- Recently renovated in 2024
- Favourable lease structures
- Attractive Yield
More information: https://www.colliers.co.nz/p-NZL67036701
