12-16 Auburn Street, Grafton, Auckland

City Fringe Investment on 8 year Lease

- Freehold standalone investment property with new eight year lease
- Returning $170,000 + GST p.a. with fixed rental growth of 2% per annum
- Warehouse/office building of 761.6sqm + 15 car parks (IEP: 87% NBS)
- 749sqm Mixed Use site in Grammar Zone with future development potential
- Highly strategic city fringe location, close to CBD, Newmarket and motorways

This City Fringe gem provides an opportunity to secure a bottom drawer passive investment, underpinned by a strategic Mixed Use zoned landholding positioned in Auckland Grammar School zone. The established tenant has taken a new eight year lease, offering a secure cash flow with fixed annual rental increases.

The combination warehouse / office building benefits from an 87% NBS rating and offers a flexible configuration which can be further optimised in the future to increase the floor area, convert to residential or further develop the site. The property is located in a sought after area which is undergoing considerable development both commercially and residentially.

This is the one you have been waiting for, a genuine city fringe gem with a long lease and underpinned by Mixed Use land - Do not miss this one!