• The Top Town building, as it is known, is located at 123 Devon Street in the New Plymouth central business district
• Net return just over $950,000 per annum
• Freehold 2,700m² lot with two road frontages
• Refurbished three-level building with basement carpark (72 on-site car parks) offering a floor area of approximately 4,900m², which equates to $2,204/m² based on a fixed asking price of $10.8 million + (GST if any)
• Mostly long-term tenants in place with a weighted average lease term of approximately 3.1 years providing an excellent split risk investment, anchored by Event Cinemas, which has rights of renewal through to 2037
• Centrally located within a growing provincial town
• A-grade seismic rating with NBS of over 80%
• Existing building management can be kept in place, making for a hands-off investment
• Funding or joint venture can be offered, and a minimum purchaser equity investment of $2 million could be considered
For more information please contact the Sole Agent.