Sole Agency. Listing ID to quote: #13603.

Commercial Realty is proud to present 8-12 Hall Avenue, Otahuhu to the market. This asset has been held by the landlord since 1999. With the same tenant for 27 years, and lease now signed with a final expiry date of December 2043. The single tenant occupies the entirety of the building and retails fabrics and clothes which is the ideal fit for this precinct of Otahuhu.
The roof, guttering and pipes were recently replaced at a value of circa $110,000.

The property areas are as follows:

- Imported Floor Area 702sqm
- Yard 465sqm


Features:

- $102,051pa net return

• 4 year lease with 4 right of Renewal of 4 years each Commencing 1st January 2024
• Final lease expiry 2043
• Roof and guttering pipes replaced recently (valued at $110,000)
• Price expectations at a high yield (circa 6.5%)
• Standalone, freehold asset
• Tidy clothing retail tenant
• Central of Otahuhu retail precinct
• Minimal CAPEX and spending required as landlord has kept the building maintiained since 1998

Otahuhu is a growing industrial hub hosting a diverse range of businesses. It benefits from excellent access to State Highway 20 via James Fletcher Drive, with State Highway 1 also easily reachable along Great South Road. Located within 14km of Auckland CBD, Ports of Auckland, and Auckland International Airport, Otahuhu offers strategic connectivity for businesses on the rise.

Please contact Tosh Sharma to discuss the above property or give us a call and we can talk in more depth about other opportunities within the Auckland Area.

Tosh Sharma
021 054 3649
tosh@commercialrealty.co.nz

Or refer to www.commercialrealty.co.nz for a comprehensive range of listings as we don't advertise all our listings on external websites

All prices exclude GST (unless otherwise stated)