Seriously for sale


Goddards Centre/21 Devonport Road, Tauranga Central

By Negotiation

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Seriously for sale | Goddards Centre/21 Devonport Road, Tauranga Central | 2501616 |      X Close
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Seriously for sale


NOW UNDER CONTRACT

Calling all investors, developers and land bankers: this property provides a sizeable 2523sqm site in the heart of the Tauranga CBD. This prime property comprises a two level commercial retail / office complex with both A & B seismic ratings that connects Devonport Road to Grey street as a popular pedestrian thoroughfare. A total of 30 tenancies include seventeen ground floor tenancies and four main upper level tenancies covering an entire block in the heart of downtown Tauranga. The current annual passing income is approximately $276,461 + GST and the appraised annual net rental is circa $640,000 + GST.

The Devonport Road exterior of the building presents clean modern lines featuring a glowing copper aluminum cladding and a grand entrance facade with steel beams and glazed canopy. The Grey Street frontage duplicates Devonport Road on a smaller scale with a cathedral style glazed canopy that gives strong presence over the entrance.

Currently the primary upper level accommodation is fully leased with some smaller office / storage areas vacant. However, the ground floor retail includes fifteen vacancies which presents huge upside for a new owner to tenant and maximise the annual rent roll available from this impressive diversified investment.

Location is the key to this strategic site which is situated in the city centre zone for future multi level mixed use redevelopment up to 49 metres. This is an outstanding large commercial holding in the Tauranga CBD which is expected to sell below its current rating value of $17,200,000.

Goddards Centre/21 Devonport Road, Tauranga Central

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