Situated on one of the iconic roading intersections in Auckland, the Royal Oak roundabout, Barfoot & Thompson Commercial are very pleased to be able to offer the Freehold land and building, known as the Royal Oak Chambers, for sale.
This property has not been for sale on the open market for 95 years, with the present owners being family descendants of the same name as that of the original family name on the 1929 Certificate of Title.
The land area itself is large for a suburban retail corner. The zoning is conducive to height for future development, these two factors make for a compelling strategic hold. Whether that hold is shorter or longer term, the multiple long-term tenancies provide a diverse and steady income stream at approximately $300,000 + GST.
KEY FEATURES:
• Fee Simple, and no interests on the Title
• Land 1,239m² zoned Business - Town Centre
• Seven shop tenancies and four signage licences
• Income circa $300,000 per annum net with set annual increases
• Long term tenants
• CV $4,900,000