Prime Milford Retail with Residential Twist

83 - 85 Kitchener Road, North Shore

Residential / Retail For Sale

Auction to be held at 11 am Wednesday, 8 Nov 2017 (Unless sold prior)    Tenanted Investment
Land Area: 261.00 m2.    Floor Area: 295.70 m2.    

Car Spaces: 4   

Description

Milford, on Auckland’s North Shore is an affluent seaside community supported by a major shopping center and popular strip retail offerings on Kitchener Road. A short distance around Lake Pupuke is Takapuna and in the opposite direction along Shakespeare Road is the North Shore Hospital, Smales Farm office park and the Northern Motorway.

83-85 Kitchener Road enjoys a prominent position on the eastern side of this main arterial with fantastic exposure to both vehicle and pedestrian traffic.

The ground floor offers a split risk investment from two separate retail tenants returning $98,000 net pa. Soul Sushi has a 6 year lease plus rights of renewal. Talay Thai restaurant have been a long established restaurant in this location and have a new lease for 4 years plus rights of renewal. Four external car parks are available off the rear service lane

The exciting prospect of a vacant upstairs tenancy opens up a range of different options where the current owners have invested heavily in a resource consent for two residential apartments but don’t let this limit your future possibilities. Depending on the end product, additional potential income from the apartments of circa $50,000 pa is available.

If you're an add value investor or someone wanting to develop your own apartment in central Milford then this is your opportunity.

Viewings are strictly by appointment so don’t delay and call the sole agents today.

 

Features

  • Multi tenanted retail investment returning $98,000 pa net
  • Add value opportunity with potential residential rent of $50k pa
  • First floor residential apartments resource consent approved
  • Sought after North Shore location – MILFORD
  • Significant refurbishment & redevelopment in the area
  • Freehold title 261m²
  • 4 on site car parks
  • Main road frontage & profile

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