39 Rawene Road, Birkenhead, North Shore

Investment with significant potential

• New three year lease from April 2021 plus rights of renewal
• Total net rental $320,000pa + GST and outgoings
• Fixed rental increases annually
• Bank guarantee for six-months
• Future re-development potential
• 12 month demolition clause within the lease at the Landlords discretion

Certainly one of the best commercial assets to come to the market in Birkenhead in recent times. With a new three-year lease term, bank guarantee and fixed rental increases annually this is a must for all astute investors to secure your first investment or add to your existing property portfolio.

Flexibility in the lease also provides an opportunity for a new owner to add value and unlock the potential for future re-development, utilising the mixed-use zoned land. Or for an owner occupier to plan their move 12 months out.

The locality is close to number of recently constructed and planned residential and mixed-use development sites and within close proximity to Highbury and Birkenhead shopping centres.

Properties of this nature offered to the market are very rare and, with ongoing demand and a very limited supply, investors, owner occupiers and developers should enquire now for further information.

Property Details:
• Land area - 3,457sqm (more or less)
• Floor area - 1,941sqm (approximately)
• Car Parks - 36
• Zoning - Mixed Use

Tenancy Details:
• Tenant - Macvad Limited
• Term of lease - Three (3) years
• Commencement Date - 1st April 2021
• Review date - Year 1 $320,000, year 2 $335,000, year 3 $350,000
• Rights of renewal - One (1) further term of three (3) years
• Net rental - $320,000pa + GST and outgoings