57-59 Albert Street, Whitianga, Thames-Coromandel

Retail investment property Town Centre location

•Currently leased to two local tenants
•Opportunity for Owner/Occupier
•Two separate modern buildings
•Freehold Commercial property - two titles
•Opportunity for future rental growth
•Central location - main Commercial area
This property is well presented with both buildings fronting Albert Street. The property consists of two separate buildings.
No. 59 is a single level retail building containing a floor area of 101.73sqm, more or less, and the existing tenant is changing the nature of their food premises business and are in the process of refitting the premises to suit.
No. 57 contains two floors with the ground floor retail being partitioned into consulting rooms and first floor office space which may be suitable for apartment conversion. These premises are currently leased until November 2020, however the tenant may move earlier to suit an owner/occupier or another tenancy.
Brief Property Details
•Freehold Site in two separate titles - 370sqm (more or less)
•Road Frontage - Albert Street (main commercial street)
•Total Area of Buildings - 361sqm (more or less)
•No. 59 - 101.73sqm (more or less) Leased at $21,219.60pa Plus GST & OPEX
•No. 57 - 260sqm (more or less) Leased at $31,022.61pa Plus GST & OPEX
•Onsite parking
•Rear yard access from service lane
Whitianga is considered to be the fastest growing town on the Coromandel Peninsula with an estimated population around 5,000 permanent residents, swelling to around 18,000 over the summer season, plus a surrounding Coromandel district population of well over 26,000 and swelling dramatically over the summer months and holiday periods due to the popular beach communities.