A tenanted investment not to be missed


3010 Great North Road, New Lynn

Tender

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A tenanted investment not to be missed | 3010 Great North Road, New Lynn | 1686479 |      X Close
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A tenanted investment not to be missed


- Standalone 2,782 sqm freehold site on the main arterial of Great North Road in the sought after New Lynn commercial precinct and very close to Lynn Mall

- Currently returning $166,312 + GST and OPEX on a renewed 4-year lease term to an established and well respected automotive group tenant with nationwide connections.

- Tightly held by the current owners since 1999, this is a very rare opportunity to purchase a tenanted investment that ticks so many boxes for purchasers in today's marketplace.

Located on the main arterial of Great North Road, New Lynn, very close to the intersection with Portage Road and approximately 500m from the LynnMall shopping centre.

This property enjoys a large 2782 sqm freehold site offering significant exposure and frontage frontage (almost 43 metres) to Great North Rd and is surrounded by a mix of retail and commercial entities in this location, which is zoned General Business under the Unitary Plan.

The improvements comprise a substantial existing showroom, workshop, office and other amenities & facilities, with an A+ IEP (seismic) rating.

Buy Right Cars, a division of Turners Automotive Group, have been established in this location since 2014 and have recently renewed their lease with a four-year term until May 2022 with a rental increase to $166,312.

The lease contains further rights of renewal and built in CPI and market rent review provisions.

New Lynn is one of Aucklands fastest growing retail, commercial and residential precincts, and this property represents a unique opportunity for a wide range of purchasers including investors, land bankers, future developers & owner occupiers to acquire a substantial land holding in this location.

This property has been tightly held by the current owners since 1999, and is now offered to the market for sale by tender closing 4 PM, Thursday 4 October 2018 (unless sold prior)

Call the sole appointed now for further details, viewing arrangements etc.

Mike Adams

021 977 527

Simon Davies

021 252 2686

Jean Paul Smit

021 021 61616

3010 Great North Road, New Lynn

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