On the market for the first time in a generation is this rare entry-level retail investment in Auckland’s pre-eminent growth suburb. 292 Onehunga Mall presents a chance to acquire a small piece of Onehunga’s retail strip, a great opportunity for the new investor or a strategic addition to your existing portfolio.
The 180m² site hosts a single level building tenanted by a long standing bakery who’s operational history spans over a 40 year period. The tenant is currently returning $24,000 net p.a. + GST on a 4 year initial lease term with rights of renewal in place providing a secure, passive income that investors will favour.
Only two minutes’ walk from Dress Mart, the site benefits from high levels of foot fall with a pedestrian crossing outside the building creating great exposure and retail conversion. A service lane at the rear of the site and two private car parks allows easy access for the tenant.
Onehunga Mall’s commercial precinct has seen a rapid increase in popularity with the suburb going through a major stage of gentrification in recent years. The site at 292 Onehunga Mall is positioned to benefit extensively from the surrounding activity. The property is a 15 minute drive to the CBD and Airport, 30 minutes by train into Britomart and 2 minutes’ walk to Dressmart and local eateries.
Auction taking place at 2pm on Wednesday the 11th of September at Level 27, SAP Tower, 151 Queen Street, Auckland CBD.
Don’t hesitate to call the Sole agents today.
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