•Tenanted investment - two tenancies
•Commanding corner with an excellent profile in Thames
•Strengthened to 80% of NBS
•Returning $128,500pa +GST/OPEX
Located at 501 Pollen Street, this property offers a commanding corner site of 845sqm (more or less), providing excellent exposure in the heart of the area. Constructed in 1986 over two levels, the building replaced the existing bank and has since been split into two tenancies. The ground floor is occupied by BNZ Branch Properties Limited, while the first floor is leased to Te Whariki Manawahine O Hauraki, taking advantage of the expansive office space accessible via a lift and stairwell to the rear.
The BNZ Thames branch services the wider Hauraki Plains and the greater Coromandel Peninsula, offering a range of services including client face-to-face interactions, meeting rooms, teller services, and an ATM. The tenant has invested in refurbishing and modernizing the ground floor space, aligning it with larger city branches.
Currently, the property generates a rental income of $128,500 per annum + GST/OPEX. With a seismic strength rating of 80%, a split-risk tenancy arrangement, and its prime location, 501 Pollen Street commands attention as a solid investment opportunity in a thriving area.