1/12 Picton Street, Howick, Manukau

Property investment with long-term medical tenant

Key features:
• Established medical specialists surgery
• Returning $39,500 + GST & outgoings
• Practice well patronised by locals
• Medical fit-out
• 70% NBS Rating Grade B
• Four (4) associated car parks plus additional roadside and council car park opposite.

The investment opportunity presented is a long-established medical facility situated in a high-profile road frontage position in the East Auckland suburb of Howick. The building is tenanted by Crawford Medical Centre returning $39,500pa plus GST and outgoings. The lease was recently renewed on 1st April 2021 for three (3) years, there are (2) two further rights of renewal of three (3) and four (4) years each. The lease has set rent reviews which are a mix of CPI and market. This location is a suburban commercial area towards the western fringe of the Howick Village, slightly away from the main retail precinct and surrounded by other office and medical use buildings.

For more information please contact:

Geoff Wyatt
021 982 322
geoff.wyatt@bayleys.co.nz

Dave Stanley
021 326 820
dave.stanley@bayleys.co.nz