Hit the Investment Bulls Eye in Penrose


2 Walls Road, Penrose

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Hit the Investment Bulls Eye in Penrose | 2 Walls Road, Penrose | 1685616 |      X Close
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Hit the Investment Bulls Eye in Penrose


- 2,072sqm standalone freehold corner site with outstanding profile

- 8-year lease term from 1 August 2016 with rights of renewal

- Fully leased returning $154,385.00 (+ GST and outgoings) with strong tenant covenant (NZX listed company)

- CPI rent review due August 2018 will provide rental increase

- Strategic Penrose location on the corner of Walls Rd and Station Rd, with access from both and adjacent to the Great South Rd main arterial route providing for high exposure

- 100% IEP (seismic) rating report available

This 2,072sqm freehold property presents a unique opportunity to purchase a tenanted investment in todays tightly held market, and this one ticks so many of the essential investment property boxes.

Tenanted by a high profile & well established NZX listed company who have occupied the property for 5 + years with a new 8-year lease term from 1 August 2016 including further rights of renewal & CPI and market rental review provisions.

The current annual net rental is $154,385 (+ GST) with a CPI rent review due 1 August 2018 which will provide a rental increase.

This is a strategic site for the tenants (AWFs) business activities & they been in this location since 2013, extensively refurbishing the interior fitout of the building in 2016.

Offering 556sqm of lettable floor area over 2 levels which includes 465sqm of well-appointed ground floor office and a lower level of 89sqm with 28 carparks. The current owner has completed upgrades to the property in recent times including the air conditioning system and roof, details of which are available upon request.

The iconic property located at the centre of the Penrose/Mt Wellington precinct, enjoying frontage to both Station and Walls Rds, and exposure to adjoining main Great South Rd.

This property has been tightly held by a family trust for over 20 years and represents a rare opportunity to acquire an investment property in this sought-after location.

All viewings are strictly by appointment.

Call now

Mike Adams 021977527 or [email protected]

Mike Adams

Auckland Central

Licensed under the REA Act 2008

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Jean-Paul Smit

Auckland Central

Licensed under the REA Act 2008

View profile

2 Walls Road, Penrose

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Mike Adams

Auckland Central

Licensed under the REA Act 2008

View profile

Jean-Paul Smit

Auckland Central

Licensed under the REA Act 2008

View profile