Nestled in the esteemed commercial hub of Penrose, this well-kept office space at 1d Olive Road boasts a prime location. Constructed in 1987 with a mix of materials for the walls and iron for the roof, the property presents a good condition both inside and out. It is governed by a Unit Title and offers 2 carparks with a floor area of 209 square meters. The recent CV as of June 2021 is $740,000, marking a 5.71% increase from the 2017 valuation of $700,000. This is a promising investment opportunity with a consistent capital value growth rate.
As for its financials, the property is currently tenanted by the reputable 'National Personnel Limited' with a secure 3-year lease, generating an annual return of $82,800 + GST. The HouGarden AVM estimates the property's worth at $690,000, while the latest sale history shows a transaction at $957,000 in 2024 and $760,000 in 2011. These numbers reflect a high-yielding investment prospect in a thriving commercial area.
For families, the property falls within the zones of several well-regarded schools. Baradene College, a secondary school with a decile rating of 9, and Ellerslie School, a full primary with the same decile rating, are among the notable institutions. Te Papapa School and One Tree Hill College also offer options for primary and secondary education respectively, with decile ratings of 2 and 3. This combination of educational opportunities and the property's strategic location make it an even more attractive investment.
Updated on June 19, 2024
