Presenting an exceptional opportunity for add-value investors, developers and land bankers located at 26-28 East Tamaki Road, Papatoetoe, Auckland. First time in the market since 1940's this versatile property, occupying 4,310sqm of prime land in the Business Town Centre zone, offers a wide array of possibilities for investors, developers, and land bankers alike. Strategically located on East Tamaki Road, it boasts excellent profile and frontage to East Tamaki Road. The location provides convenient accessibility to Auckland motorway network, a desirable strength.
At present, the building comprises five separate commercial units, hosting four tenants, with one vacancy, along with an additional vacant residential house. Spanning approximately 1,245sqm in total floor area, the property currently provides holding income on short term leases. An opportunity exists to increase the holding income by filling the vacancies. All leases are short-term, granting developers the flexibility to execute their plans while still receiving an holding income.
This asset presents a rare opportunity for large-scale development in Papatoetoe. Properties of this calibre and potential seldom come to the market, rendering this an unparalleled opportunity. The property will be sold via Deadline Private Treaty, closing 4pm on 22nd May 2024. For further details and inspection arrangements, please contact the sole agents today.
Features:
* Land Area –4,310sqm
* Floor Area – 1,245sqm approx.
* Zone - Business Town Centre
* Short Term Leases
* Diversified rental streams
* Ideal - Development & Land Banking opportunity