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Palmerston North

7 Victoria Avenue, Palmerston North, Palmerston North

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944sqm Land area SQM
6 Bedrooms
1 Bathrooms

Auction

(will not be sold prior)

Location - Invest, Develop - You Choose


Calling all Investors, Developers and Homeowners - Rare Offering. This is an exceptional opportunity to purchase one of the last under developed properties in this commercially zoned area of Victoria Avenue. Situated directly beside Horizons Regional Council's new development, this grand homestead is currently leased to Triton Hearing until July 2022 and has a current net rental of $46,400 with a market review in July 2021. The interior of the home has been renovated by the tenant and could easily be converted back to a residential dwelling. Alternatively, there is maybe an opportunity to continue the existing commercial lease. Fantastic holding income for anyone looking to develop the 944 sqm (more or less) site. Don't delay on this property - it will be sold at auction.

Auction
(will not be sold prior)

243 Broadway Avenue, Palmerston North

19

Mar

Time12pm
Calander
Calendar
Maura Tootill

Maura Tootill


Mid West Realty Ltd, Bayleys,
Licensed under the REA Act 2008

Features

Building:


Refurbished by tenant to high standard, multiple consulting rooms and 8 on-site carparks. Floor Area 280 sqm (more or less)

Lease:


National tenant with lease expiry July 2022. Opportunity to potentially renew. Rent Review July 2021 - Current Net Income $46,400 + GST

Location:


Commercially Zoned - this is a sought after location and one of the last under-developed sites, surrounded by new buildings and located directly beside Horizon District Council's new development.