CBD
Tauranga City

ID#456629
Listed about 1 month ago

Auction
SOLD
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Property Details

Location:
Tauranga City
Bay of Plenty

Building
Land
Built In
475 m²
(5111 sq.ft.)
N/A

Time to buy in Tauranga!

- Split risk investment with two tenants providing strong income/cash flow

- 453sqm commercial site / 475sqm building / C Grade Seismic Rating

- City Centre zoned for future multilevel redevelopment up to 49 metres

- Annual net rental of $108,000 + GST & Outgoings

This fully tenanted freehold investment presents the perfect time to purchase in the Tauranga CBD. Situated at the top of the rise on the eastern side of Devonport Road, the site offers position, profile and significant potential to capitalise on the expected growth of a large inner city apartment population.

One of the city's character buildings featuring its original front facade, the premises are occupied by two retail tenants on new three year leases with further rights of renewal. However both include redevelopment clauses that provide future options for either developers and/or passive investors alike.

Enjoy the existing rental income or plan a new multilevel mixed use development to redefine this location with your landmark. Great opportunity to be a part of the renaissance activity currently underway in the CBD and reap the rewards of a much more vibrant and dynamic Tauranga City Centre!

Keywords


Inner City
Investment

Auction Details

Location: Bayleys Auction Rooms
Time: Wednesday 7th August - 1:00PM

Sales Consultants

Brendon & Lynn Bradley


Bayleys Tauranga - Success Realty Ltd MREINZ
Licensed Real Estate Salesperson (REAA 2008)
Member of the REINZ
Phone: 07 571 4686
Mobile: 021 816 600 (B) 027 441 1213 (L)
Email: Loading...
http://www.bayleys.co.nz

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James Sales
james.sales@open2view.com
027 214 9900
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