• Returns a full notional rental of $199,180.93pa + GST (currently 92% leased)

• 1,037sqm (more or less) freehold site with 854sqm (approximately) three level building (100% NBS) and 21 car parks

• Town Centre zoning under Auckland Unitary Plan (27m height overlay)

• Diversified income with flexible lease terms

Situated in the heart of Auckland's northern township of Orewa the property consists of a high profile three level standalone retail and office building with car parking to the rear of the site. Orewa is a bustling township that has benefited significantly from the booming residential growth of the suburb in addition to wider Silverdale, Millwater and the Whangaparaoa Peninsula. The properties proximity to world class Orewa beach and the sites 27m height limit (circa 8 levels) underpin the value of the asset long term as a sought-after redevelopment site.

Currently the property produces a robust income stream diversified over several tenancies and differing business uses including retail, gym and office. With flexible lease terms across multiple tenancies there is an owner occupier angle and also real potential to increase the modest rent roll over the 854sqm lettable area and 21 car parks. Opportunities to purchase freehold standalone assets in quality locations are rare so don't miss out on this one.

For more detailed information about this property please register your interest here:

https://www.propertyfiles.co.nz/property/1502951