Ad ID: 76833 Inactive
Retail Investment for Sale Titirangi AucklandEnquire about this "Retail Investment for Sale Titirangi Auckland" property on nzcommercial
Retail - Own This Cracker Of An Investment By Christmas!
Commercial Property for Sale Description
Retail Investment for Sale Titirangi Auckland120 Park Road, Titirangi is available for sale by Auction at 11.30am on Wednesday, 5th December 2018 (unless sold prior). The Auction will be held at CBREs Northwest office, located at 1/5 Te Pumanawa Square, Kohuhu Lane, Westgate.
Rarely do properties come to the market in tightly held Titirangi. This village boasts low if any vacancies and services an affluent residential catchment. 120 Park Road houses three separate tenancies, being anchored by Park Road Kitchen, a local up market caf which is well supported by the local community and visitors into the area. The caf has recently being fully refurbished to an outstanding quality with both inside and outside dining on the covered decks.
The two other tenants are well established and between them all provide a regular income stream of net $96,114 p.a. Built in rent growth annually then further rental upside is possible in the near future with a review to market in 2019. This is an easy, passive investment with an iconic flavor not to be missed. After 25 years of ownership, vendors are now moving on to other projects and demand a sale before Christmas.
Freehold corner icon investment property
Property returning net $96,114p.a.
Three established tenants including prominent caf
Part of low vacancy area
Possible rental upside in the near future
Floor area of approx. 500m2
Anchor tenant fully refurbished caf
Future development potential Local Town Centre Zoning
Own your slice of Titirangi paradise
High net worth demographic area
First time on the market in 25 years