390-422 East Street, Ashburton, Ashburton

Investment with Upside

- 1329sqm building on 994sqm freehold land
- Leaseback to NZ Post and Kiwibank
- Two first floor casual tenancies
- 396sqm vacancy opportunity

Situated on a high profile corner of Ashburton's main street the property returns a current gross rental of $73,390.58 per annum with the vacant area potentially lifting the net rental to over $90,000 per annum. Deducting the non-recoverable outgoings or rates, insurance and compliance costs gives a net rental of $56,052.85 + GST per annum

Longer term redevelopment options should also be considered such as a commercial/residential mix or complete conversion for commercial accommodation.

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