Priced to sell at a generous yield

42-46 Jellicoe Street, Te Puke

Asking Price NZD $2,350,000 + GST (if any)

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Priced to sell at a generous yield | 42-46 Jellicoe Street, Te Puke | 2501065 |      X Close

Priced to sell at a generous yield

Priced to sell at $2,350,000 (circa 7.8%)

- Superb high profile site

- Split risk asset with 11 tenancies

- Strong income earner and cashflow

- Substantial arcade complex with onsite parking

- C Grade Seismic Rating / 55% NBS

- Profile 1,452sqm CBD site with 1,500sqm building

- Annual net rental $184,155 + GST

The property comprises a part two level arcade complex known as Palmer Court. The ground floor includes a good balance of nine service/office and retail tenancies and the upper level has been partitioned to provide two office suites.

Overall there is a diverse range of long established and more recent new tenancies on various leases that include a fresh fish market, tattooist, IT company, hairdressers, beauty therapy and health spa, Indian restaurant, health centre plus professional offices occupied by local Iwi and horticulture tenants.

The building occupies a prime corner block towards the eastern end of Jellicoe Street which is the principal retail strip in the township. The site enjoys expansive frontages to Jellicoe Street, Palmer Lane and Commerce Lane.

The "kiwifruit capital of the world" and the horticultural hub of the eastern Bay of Plenty region, Te Puke is a thriving rural service town that is a major centre for New Zealand's billion dollar kiwifruit industry.

Given the strength of the multi-tenant income streams and potential rental upside, this arcade complex must appeal to add value investors looking for a generous provincial return on investment!

42-46 Jellicoe Street, Te Puke

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