An extraordinary opportunity for owner occupiers, developers and astute investors. On offer is a first-floor 500sqm office unit title with 4 basement carparks built in 1987. The property is located in a central CBD location in the heart of the education and civic precents. The Waikato University campus and the new Tauranga City Council Convention, Library and Civic complex under construction is only a short walk away. The property currently provides a holding income from 3 leases due to expire in February 2025, which gives time to plan a refurbishment and remodel of the space and attract long term tenants to this central CBD location. The six-unit titles within the building are managed via a local professional body corporate company who are in the process of managing major roof repair works. These costs will be payable via special levy with the purchase price being reflective of these upcoming costs.
The rental return for the ground floor refurbished unit of a similar size has been established at over $150,000 + GST + OPEX p.a., highlighting the potential return that this affordable property has on offer.
Call now to secure this CBD opportunity!!
Features:
* 500sqm of office building (approx.)
* 4 basement carparks
* Affordable price range
* Significant CBD opportunity
* Below replacement value
* Central CBD location
