Albany
Units 1-5/253 Dairy Flat Highway, Albany, North Shore
+9
Mortgagee sale - 2,025sqm land plus income
• 2,025sqm freehold development site zoned Business - Local Centre
• Income streams from nine tenancies, returning circa $130,000pa + GST
• High-profile and sought after position in Albany Village
• Land bank and enjoy the income or take immediate advantage of this underdeveloped site
Under instructions from the first mortgagee, this freehold development site is to be sold. The property presents an exciting opportunity for those looking for an affordable entry into the popular Albany Village, with a diversified income stream providing an attractive split risk proposition and the underdeveloped 2,025sqm (more or less) land holding providing a range of development opportunities in the immediate or long-term.
Returning circa $130,000pa + GST, the property provides an attractive spread of risk from multiple established tenants with room to increase rentals and also benefits from demolition clauses in the leases.
Whether as a strategic land bank, value add investment or full-scale development, this one is a must view and will be sold. Call now for further information.
Damien Bullick
Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Ken Hu
Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Features
Land area breakdown
2,025sqm freehold development site zoned Business - Local Centre
Opportunity
Income streams from nine tenancies, returning circa $130,000pa + GST
Location
High-profile and sought after position in Albany Village
Land bank
Land bank and enjoy the income or take immediate advantage of this under-developed site
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