87A McLaughlins Road, Wiri, Manukau

Affordable investment - Jewel in the Crown

For Sale by Deadline Private Treaty closing 4pm, Thursday 18th November at 2 Harris Road, East Tamaki, Auckland.

• Quality new 269sqm two level building in the Stonehill Business Park
• Freehold fee simple title with 644sqm land area
• New eight year lease for cafe and courtyard returning $67,180 pa net plus GST
• Fixed rental growth of 2.5% pa plus bank guarantee
• Dual tenancy provides options and split risk investment
• Spacious two bedroom apartment is vacant and can be leased separately or utilised

This affordable investment includes a quality new two level building on a fee simple title with 644sqm land area. The ground floor and outdoor courtyard is leased to Stonehill Hospitality Limited for an eight year term plus rights of renewal. The first floor apartment has separate access and is spacious at 125sqm with two bedrooms, two bathrooms and a 17sqm covered deck. The apartment is vacant which provides investors options to rent for additional income or utilise.

Floor area breakdown:
• Cafe - 125.8sqm plus 93sqm courtyard (more or less)
• Apartment - 125.8sqm plus 17sqm deck (more or less)
• Land area - 644sqm (more or less)

New eight (8) year lease for cafe and courtyard returning $67,180 pa net plus GST with potential rental of $96,000 pa net or more when fully leased. Full tenancy details are available upon request.

The property is located at the entrance to the Stonehill Business Park and the exclusivity of trade for the cafe in the business park and surrounding areas truly makes this this Jewel in the Crown of the prestigious Stonehill Business Park.

Auction (will not be sold prior)
11am Wednesday 15th September 2021 at Bayleys House, 30 Gaunt Street, Auckland, New Zealand

For further details contact the sole agents:

Mike Marinkovich
021 779 117
mike.marinkovich@bayleys.co.nz

Janak Darji
021 047 1290
janak.darji@bayleys.co.nz

Tony Chaudhary
021 995 121
tony.chaudhary@bayleys.co.nz