Barfoot & Thompson South Auckland Commercial is pleased to present a prime investment and development opportunity located at 8 Vernon Street, Papakura. This property features a 1,420m² Freehold land parcel with a 681m² floor area, situated near the fast-growing suburbs of Drury and Takanini, with easy access to SH1.
The property is currently leased to two tenancies generating a combined net holding income of $85,000 + GST per annum. With its Business - Mixed Use zoning, it offers significant potential for both investors and developers.
KEY FEATURES:
1,420m² Freehold land
681m² floor area
Net rental income of $85,000 + GST per annum
Business - Mixed Use zoning
Resource consent (RC) approved for 10 residential units
CV of $1,800,000 (as of June 2024)
You choose to redevelop it now or hold it as a land bank with income
The vendor is committed to another project and is highly motivated to sell.
Please contact the listing agent for further details or to arrange a viewing.
