41-47 Seddon Street, Pukekohe, Franklin

MULTI-TENNANTED RETAIL

Currently returning $69,600 pa plus GST and outgoings. This fully tenanted and well maintained, single level 1970s building is on the market after being tightly held by the current owner for over thirty years. The exterior has been recently repainted. This is a well presented opportunity for an astute buyer looking for a secure investment in a prime location.
Essentially there are six shops divided into five tenancies. Three tenancies are occupied by the same tenant who operates three different businesses, a kebab shop, barber shop and beauty spa. There is a computer repair shop and a Hospice opportunity shop.
The building at 614.01sqm occupies most of the 814sqm site. Current rental average is just $114sqm so there is significant room for rental growth as rental reviews fall due.
This is a very busy area located on the corner of Tobin Street and Seddon Street and adjacent the Countdown supermarket and in close proximity to local bars, cafes, restaurants, professional offices and other retail shops. Just across the road is Seddon Street Park, which is a delight all year round.
Pukekohe is experiencing amazing growth and properties such as these seldom come on the market. The owner is keen for it to be sold and will meet the market. There is genuine scope for rental growth in the near future.
Disclosure: The neighbouring car park is a private car park belonging to the Countdown supermarket. Parking is permitted however any future development of this area by the owner may significantly affect this. Seismic reporting has not been undertaken as the single level concrete block construction, over a concrete slab floor with longrun roofing would be expected to exceed, at the very least, the minimum seismic threshold of 34% NBS.