Seriously for sale at a 9.64% yield!


167 Devon Street West, New Plymouth Central

Asking Price NZD $10,000,000 + GST (if any)

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Seriously for sale at a 9.64% yield! | 167 Devon Street West, New Plymouth Central | 2500400 |      X Close
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Seriously for sale at a 9.64% yield!


- Income, upside and opportunity

- 3,069sqm site / 5,096sqm buildings

- Iconic New Plymouth building

- B Grade Seismic Rating

- 37 on site car parks

- Impressive annual holding net rental $978,011 + GST & Outgoings

Strategically located in the New Plymouth city centre, this cash cow comprises a three level office building plus an eight level office tower that are interlinked and situated on a sizeable high profile freehold corner site that includes 37 carparks.

Indications are the current tenant is unlikely to exercise their next right of renewal on 15 July 2023 providing just under three years for a new owner to park your money and and plan ahead with an outstanding return on investment.

Commercial opportunities of this scale and in this location are scarce in the Taranaki market. Seriously for sale, this extremely high yielding investment asset must command serious attention from astute investors who recognise the future potential to either refurbish or redevelop and re-tenant!

167 Devon Street West, New Plymouth Central

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