• Fully tenanted investment returning $116,758.50pa + GST
• 889sqm (more or less) freehold site
• Local Centre zoning providing future development potential
Situated in the heart of Torbay village on Auckland’s’ North Shore, this commercial block of shops offers a prime, diversified investment opportunity that, with a combination of land area and zoning, provides excellent real estate fundamentals that will look after the next owner well into the future. The property is located on Beach Road, ensuring excellent visibility and consistent foot traffic due to its proximity to key amenities such as supermarkets, cafes, and local services.
With four established tenants’ being a sushi, roast, hairdresser and restaurant businesses and rental rates in the $300/sqm range (on average) this is a sustainable convenience/service retail offering that benefits from its tightly held location with currently zero retail vacancy in the township and ample on-site car parking. Long term the generous landholding and ridgeline position offers a redevelopment proposition that will benefit from the properties coastal position and potential for viewshafts from upper floors.
With the rate cut cycle underway and term deposit rates falling this is an excellent opportunity to beat the bank and secure an investment with strong returns.
For sale by way of Auction (unless sold prior) being held at 11am, Wednesday 4th December 2024, Bayleys House, 30 Gaunt Street, Auckland, New Zealand
