Situated at the corner of Albert Street and Swanson Street, this 10sqm (approximately) retail shop is part of the prestigious new high-rise Park Residences. This prime complex is adjacent to the picturesque St. Patrick's Square and directly faces the iconic 40+ level ANZ Centre across the street.
Key Features:
• Premium Access: Direct entry from Albert Street.
• Modern Design: Features a 4m high internal stud, polished concrete floors, illuminated signage, and a combination of timber, tile, and plasterboard wall finishes.
• Long Term Lease: The property is tenanted by a vape store for a 15 year term commenced on 1st July 2021, net rent $16,000 + opex + GST subject to rent review July 2025.
• Prime Investment: Investing in a retail shop with a long-term tenant who provides a personal guarantee and security bond money is a desirable opportunity for property investors.
• Steady Income Stream: A long-term lease offers consistent rental income over the term of the agreement, minimizing vacancy risks.
• Reduced Default Risk: A personal guarantee from the tenant provides financial security, as the guarantor assumes personal liability if the business fails to meet its obligations.
• Upfront Financial Assurance: A security bond acts as collateral, covering potential arrears or damage during the tenancy.
• Ease of Financing: Properties with secure, long-term tenants are often viewed more favorably by lenders, making it easier to secure financing at competitive rates.
• Capital Value Stability: A strong tenant covenant enhances the asset’s appeal to future buyers, potentially increasing resale value.
Prime Location: Auckland’s City Rail Link (CRL) project, a globally recognized initiative embedding cultural values into sustainability, is transforming Albert Street.
• Improved pedestrian pathways with broader footpaths.
• Upgraded surfaces for footpaths and roads.
• Enhanced bus stop facilities.
• Modern, attractive street furniture for a more vibrant cityscape.
