Takapuna landmark with scale
• Convert, develop, occupy or invest
• Two large freehold commercial sites with a combined land area of 3,546sqm (more or less)
• Opportunity to secure one or both offerings with Metropolitan Centre zoning
• Current combined rental income of $2,688,395.44pa + GST
• Busy corner location next to the Shore City Shopping Centre
• 71 car parking spaces and spare land adjacent
Presented to the open market are two significant freehold sites located at 521 and 529 Lake Road, Takapuna.
The offerings present as two well-maintained office buildings in central Takapuna showcasing a rare opportunity to acquire one or both assets of scale in such a tightly held locality with expansion land adjacent.
The existing tenancy profile lends itself to multiple investment options. These include redevelopment and conversion opportunities, as well as add-value and passive investors, taking advantage of the Metropolitan Centre zoning.
Make your mark, unlock the potential and take advantage of this exciting opportunity before new leases are negotiated.
521 Lake Road:
Floor area: 4,882sqm (approximately)
Land area: 2,587sqm (more or less)
Car parks: 71
Rental: $1,864,609pa + GST
529 Lake Road:
Floor area: 2,154sqm (approximately)
Land area: 959sqm (more or less)
Rental: $823,786.44pa + GST
• Two large freehold commercial sites with a combined land area of 3,546sqm (more or less)
• Opportunity to secure one or both offerings with Metropolitan Centre zoning
• Current combined rental income of $2,688,395.44pa + GST
• Busy corner location next to the Shore City Shopping Centre
• 71 car parking spaces and spare land adjacent
Presented to the open market are two significant freehold sites located at 521 and 529 Lake Road, Takapuna.
The offerings present as two well-maintained office buildings in central Takapuna showcasing a rare opportunity to acquire one or both assets of scale in such a tightly held locality with expansion land adjacent.
The existing tenancy profile lends itself to multiple investment options. These include redevelopment and conversion opportunities, as well as add-value and passive investors, taking advantage of the Metropolitan Centre zoning.
Make your mark, unlock the potential and take advantage of this exciting opportunity before new leases are negotiated.
521 Lake Road:
Floor area: 4,882sqm (approximately)
Land area: 2,587sqm (more or less)
Car parks: 71
Rental: $1,864,609pa + GST
529 Lake Road:
Floor area: 2,154sqm (approximately)
Land area: 959sqm (more or less)
Rental: $823,786.44pa + GST
Key features
Add value
Redevelopment and conversion opportunities as well as add-value and passive investors
Location
Central Takapuna
Zoning
Metropolitan Centre
Passing income
Current combined rental income of $2,688,395.44pa + GST
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