A rewarding opportunity awaits owner-occupiers and developers looking for their own workspace or a project to undertake in the coming years.
This two-level commercial office building offers versatility and potential. The 161.8m² ground floor is currently configured into two separate tenancies, while the 148.3m² first floor features a functional office layout with open-plan spaces, a boardroom, and amenities. For those with a vision, there’s real upside in refurbishing the property to increase rental rates or capitalising on its current layout to generate additional income streams from the separate offices.
Currently under-rented, the property’s assessed annual market net rent stands at $49,300 plus GST (valuation as of September 2024). It also includes three onsite car parks. The long-term tenant, paying $33,327 net + GST, holds a lease expiring in August 2026, but options exist for earlier access, presenting flexibility for buyers.
Positioned in a rapidly evolving area of Napier’s CBD, the location benefits from ongoing developments like the new Napier Library and Civic Centre. The precinct is popular with professional services and government agencies due to its ease of access and ample on-street parking.
The vendor is motivated and welcomes all enquiries. Don’t miss this opportunity. For sale by Deadline Private Treaty (unless sold prior), closing Wednesday, 18 December 2024 at 3pm.
Features:
* Net income $33,327 + GST
* Lease expiry 31 August 2026
* Onsite car parking
* Floor area 310m²
