250 car parks leased to Wilson Parking


Blocks 1 - 5/2-4 York Street, Newmarket

Private Treaty

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250 car parks leased to Wilson Parking | Blocks 1 - 5/2-4 York Street, Newmarket | 1902935 |      X Close
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250 car parks leased to Wilson Parking


• 250 freehold car parks on individual titles in central Newmarket

• Unique hands off investments underpinned by attractive long term leases

Offered for sale are 250 fully leased carparks in one of Newmarket's most centrally located carparking facilities. This is an exceptional and unique opportunity to purchase a straight forward investment underpinned by a solid income stream in one of Auckland's most vibrant commercial and residential precincts.

Wilson Parking, one of New Zealand's largest car park operators, holds long-term leases over all 250 car parks until October 2029. The carparks consist of five separate blocks of 50 carpark which are currently returning $849,022 + GST (pa) net with automatic annual increases of 2.0% per annum.

Positioned just off Broadway, the carparking facility is centred amongst many major commercial office, retail and residential developments and the nearby Auckland University Campus. The growing resident and office worker population and expansive new retail developments including the recently completed Westfield Newmarket will continue to drive the demand for parking in Newmarket.

There is also the possibility of purchasing the blocks individually with a net rental of circa $170,000pa

For Sale by Deadline Private Treaty closing 2pm, 10th December 2020

Ben Bayley

021 537 503

ben.bayley@bayleys.co.nz

Cameron Melhuish

021 479 882

cameron.melhuish@bayleys.co.nz

Blocks 1 - 5/2-4 York Street, Newmarket

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