Herne Bay Investment Opportunity


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Herne Bay Investment Opportunity

*Comprises seven well appointed 1-bedroom units plus off-street carparking

*Positioned on the Northern Slopes of Herne Bay

*Potential to be a high yielding residential investment

*Option to Freehold the block in April 2012

*Numerous cafes/bars and restaurants within walking distance and the CBD just a short drive

*Motivated Vendor - Will meet the market!

Positioned on the highly sought after 'Northern Slopes' of Herne Bay, this is an affordable opportunity that must be considered by all astute investors and owner occupiers. The seven units offered for sale are situated in a block of 10 units, each having 1-bedroom and a similar layout. Each of the units are held on individual leasehold cross lease titles, allowing purchasers to Tender on one, or more, or all.

Units 2, 3, and 5 are located on the ground floor and enjoy their own private courtyards and units 7 -10 are located on the floor above and offer residential and harbour views over the Northern Slopes of Herne Bay.

Each of the properties measure circa 37sqm, bar unit 10 which measures 46sqm. Units 5, 8 and 10 enjoy their own off street undercover carpark in the carport situated to the front of the site.

These Leasehold units offer an affordable opportunity to get into the sort after Herne Bay area. The Ground Lease provides the option to Freehold the in April 2012. Providing investors and owner occupiers alike, the chance to enjoy the proven capital gains Herne Bay has to offer.

The properties are proven performers boasting a strong rental and occupancy track record. For renters, this location offers convenience to the CBD and the vibrant commercial precinct along Jervois and Ponsonby Roads which houses numerous popular caf?, bars and restaurants. Just a short walk away is accesses to a number of secluded beaches.

In summary, seven well appointed units in the sort after Herne Bay suitable for owner occupiers looking to get into the Herne Bay area or investor looking for an attractive residential return. Purchase 1, or more, or the lot!

Bayleys Real Estate Limited is pleased to offer for sale Units 2, 3, 5, 7, 8, 9 and 10, 25 Wallace Street, Herne Bay, Auckland. The units are offered for sale by Tender closing 4pm, Thursday 10th November 2011.