Ad ID: 92012

Tenanted Investment Offices for Sale Addington Christchurch

Enquire about this "Tenanted Investment Offices for Sale Addington Christchurch" property on nzcommercial

Offices - Investment with Long Lease - 9.5% Net Return

5 Moule Street
$3,475,000 + GST
Area (m2):

Commercial Property for Sale Description

Tenanted Investment Offices for Sale Addington Christchurch 5 Moule Street

CBRE is proud to present 5 Moule Street, Addington, Christchurch, for sale.

Key information includes:

• Asking price $3,475,000 + GST (if any);
• 9.5% net return;
• Net rental $329,771 + GST pa;
• 1.5% fixed rent review annually;
• WALT of 5 years as at 1 July 2020;
• 6 year ROR with 12 month notice period;
• Government backed tenant - NZ Racing Board (now RITA);
• Building area 1,518.1 sqm;
• Land area 3,033 sqm;
• 28 on-site car parks;
• 71% NBS;

Telfer Young valuation is available which supports the asking price. Pricing is reflective of secondary office location and contract versus market rental. Enjoy 5.3 years of Government backed income before re-leasing at market rates (with 12 months\' notice) or repositioning into accommodation, housing or alternative commercial options.

For a copy of our Information Memorandum and to arrange an inspection, please contact one of the agents listed below.

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CBRE Ltd - Christchurch
For more info
Contact: Paul Brown

Paul Brown

021 386 069 or 03 374 9889
CBRE - Christchurch
Licensed REAA 2008
Broker Ref: 19022020

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