Key features:
• Quality tenant, Aotea Finance Limited, returning a current net rental of $138,000.00pa + GST, rent review due February 2025. Strong growth potential
• Property is in a thriving location with 68% NBS and low-maintenance construction
• Dual access, parking, profile, attractive zoning - ticks all the boxes!
Investors seeking opportunities in the revitalized Papatoetoe central township will find this property particularly attractive. Its appeal extends to add-value investors, as the favourable zoning, spacious buildings, prime location, and flexible lease terms create potential for mixed-use development, potentially leading to significant income enhancement. Furthermore, the property's current rental income appears to be below market rates for the area, suggesting room for growth.
Owner-occupiers should also consider this property, given that the final lease expiry is 31 January 2028, should the next renewal be exercised, the property presents the potential for long-term stability. Its robust construction, featuring concrete block walls and a steel roof, ensuring durability and cost-efficiency over time. Strategically located, this asset combines reliable income with future growth potential.
Tony Chaudhary
021 995 121
Lalit Arya
021 033 2309