Introducing 244 Ponsonby Road, offering purchasers a coveted and fully tenanted passive investment in the heart of Ponsonby. The property features a beautifully restored building on a premium corner site with two outstanding business operators and long term development potential.
The property features approximately 343sqm of net lettable area atop a 377sqm freehold site. As a split-risk ‘boutique eatery’ investment, with the earliest lease expiry in 2031, the property generates a strong annual income of $241,000 + GST + OPEX and presents a highly sought-after asset to the market.
Ponsonby, located just west of Auckland’s central business district in New Zealand, is a renowned suburb celebrated for its historic architecture, trendy vibe, and diverse cultural offerings. It attracts a dynamic mix of retail stores, entertainment, and eateries, fostering a vibrant lifestyle.
This unique property is being sold via Auction taking place 11am Thursday the 25th July 2024 in the Colliers Head Office. Please contact the agents for further information and inspection windows.
Features:
* Split-Risk Investment - A fully tenanted passive investment on dual frontage to Ponsonby Road and Summer Street
* Established Tenants - Leased to proven, high quality business operators, ‘Farina’ and ‘Little Bird Kitchen’
* Seismic Rating - 244 Ponsonby Road holds a 49% IEP earthquake rating
* Thriving Commercial Precinct - Located within the desirable and well established Ponsonby commercial precinct
* Favourable Zoning - Business - Town Centre Zone allowing for a multitude of permitted uses and commercial diversity in the area
* Ponsonby Exposure - Situated on a highly sought after corner site, with high profile to Ponsonby Road
* Freehold Title - 343sqm Net Lettable Area on a 377sqm Freehold title. New Zealand’s highest form of land ownership