The property is located in an excellent position, being situated on the corner of Stuart Street, a main thoroughfare from the Railway Station to The Octagon, and Cumberland Street (State Highway 1 Northbound), giving the property excellent exposure to high levels of foot and vehicle traffic. The subject property is located in the Dunedin CBD and sits in close proximity to Cadbury World, Countdown and The Octagon.
The subject property consists of a three storey commercial building in the Dunedin CBD with a total floor area of 1,071m² (approx). The property sits on a freehold title of 516m² (more or less).
The building has 3 floors and is currently leased to Torpedo 7 with the ground and first floors used for retail space and the second floor used for storage, offices and staff amenities.
The lease has a final expiry date of 31 March 2019, which gives a good opportunity for a purchaser to potentially work through their future plans for the property while still receiving rental income.