• Current annual net rental of $165,411 + GST
• Potential annual net rental circa $200,000 + GST
• Outstanding rear on-site car parking for 16 vehicles
• Seismically sound building with B grade/70%NBS rating
Location is the key to this Tauranga CBD property that provides a solid spread of risk from three ground floor retail and three first floor office tenancies on various lease terms, that currently includes one vacant retail tenancy.
This two-level premises has an expansive frontage that presents extremely well and occupies a prime position on Grey Street in the heart of the city centre. Grey Street has arguably become the most popular and preferred location in the CBD due to its diverse mix of businesses, high occupancy rates and excellent on street parking.
The Tauranga CBD is presently experiencing major redevelopment and transformation that includes a number of large-scale retail, office and residential apartment redevelopments within the inner-city area such as the recently opened Farmers multi level complex.
Commercial opportunities in Grey Street are scarce in the Tauranga market and this prime passive investment presents the perfect time to purchase and reap the rewards of the current CBD revitalisation delivering a much more vibrant and dynamic city centre for the future.