Seize the moment with this rare investment opportunity located in the heart of Newtown, only a few metres from Riddiford Street. A new 10-year net lease with three yearly market rent reviews is on offer. The Tenant is a well-established commercial laundry that has been in business for over 16 years. They have invested heavily into their fit-out so they are not going anywhere any time soon!
The property is spread over three separate Freehold Titles, with the building covering two and the third being used for car parking. The building itself could easily be split into two self-contained tenancies, but is currently set up for one occupier. Car parking is not an issue with 12+ on-site, plus 10 on-street (free with 60min time limit) and a Council car park directly across the road offering up to 14 car parks.
The flexible ‘Centre Area’ zoning allows for a range of future activity including commercial, industrial and residential.
Key highlights include:
• Long term net lease to an established commercial laundry
• Net rental of $157,000 plus GST per annum
• Three separate Freehold Fee Simple Titles
• Versatile and functional building
• Building could be split into two self-contained tenancies
• Large land holding in a popular and established location
• Regular flat rectangular shaped site
• Plenty of car parks available on and off street
• Flexible zoning allows for a variety of uses and activities
• Seismic rating of 76% NBSThis
This really is a unique offering and will no doubt appeal to a wide range of investors. We encourage all prospective purchasers to get in touch without delay!
Price by negotiation
For more information, including access to our dataroom, please view the property on our website https://gollinscommercial.co.nz/properties/699-2-6-Wilson-Street-Newtown-Wellington/
