• Substantially renovated with near fully upgraded services
• Good tenancy profile with an average net rental of $275 per sqm
• Two-tower design offers excellent occupation flexibility
• Passing net income of $2,713,780pa
Astute investors will see the potential of this well-known Symonds Street ridge office building. The building enjoys an impressive car parking ratio providing the purchaser multiple re-development options.
The property is located 10 minutes from Auckland’s CBD and within Auckland’s growing education precinct. With easy access to the nearby motorway interchange, bus connections, and the new Karangahape underground City Rail Link (CRL) station. A well-regarded fringe city position with significant infrastructure improvements at Karangahape Road, close proximity to Auckland Hospital, and the extended Cordis Hotel opposite.
Over the past 24 months, the major capex upgrade included three new lifts, sprinklers, HVAC, LED lighting, amenities, and security. Longer term, the property offers redevelopment potential for mixed commercial and residential purposes and is suitable for student accommodation, build-to-rent, co-living, or hotel.
For sale by Expressions of Interest (unless sold prior). Closing, 4pm (NZST), Wednesday 24th April 2024, Bayleys House, 30 Gaunt Street, Auckland, New Zealand.
All requests for information and arrangements, including site inspections are to be directed to Bayleys as the sole agent.
Tommy Zhang
+64 21 760 889
Layne Harwood
+64 21 630 136
Ian Hall
+64 21 451 411