• Quintessential trophy asset
• Returning a net rental of $292,264pa + GST and outgoings from commercial title (PU2)
• Diversified income stream with 67% and 100% NBS (two structures)
This Art Deco masterpiece is the magnum opus of Devonport. Purpose built in 1938 as Devonport's local post office, the building has been painstakingly refurbished back to its former glory by the current owners. This award winning project received the New Zealand Institute of Architects 2009 Auckland Architecture Award (Heritage category) and the Registered Master Builders Association 2009 Commercial Project Silver award. In 2009 the building featured in Commercial Design Trends magazine.
The asset now positioned as a diversified commercial investment boasts retail, hospitality, office and residential tenancies that will provide the next lucky owner with a robust cashflow de risked across a range of income streams. A prime position in the heart of the village, the asset has performed well as a convenient suburban hub in recent years.
Located in the picturesque seaside suburb of Devonport, just 12 minutes by ferry to Auckland CBD, this area has become one of the North Shores' most sought after suburbs and a prime tourist destination. Having only transacted twice in 82 years, this is a once in a lifetime opportunity.
The building contains two more upper floor apartments on separate titles which are not included in the sale.
Contact the Joint Sole Agents for more detailed information.