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A TAWA building with an unusual mix of industrial, retail and residential tenants is going up for auction next month.
Colliers International agent Chris Gollins said the 1300 square metre building at 20 Main Rd – in front of the Dress Smart factory outlet – was perfect for investors wanting commercial exposure with a strong residential mix.
Tenants include Creative Curtains, and Sovereign Paint and Panel, and there are six near-new apartments. ‘‘This is the sort of investment so many people look for, but seldom find. Well-established commercial tenants and six very well built two-bedroom apartments.’’
It was only a minute from the railway station and immediately next to Dress Smart, so vacancies were filled before tenants moved out.
Owners Canyonville Holdings had started unit titling the property and one of the commercial tenants was keen to buy their own space
The building returns a net rental of $207,000 a year.
Mr Gollins said the proposed new Mitre 10 Mega and other bulk retail stores at Takapu Island were only 500 metres away. ‘‘Five years from now this location will be as hot as they get and it’s 10 minutes from Takapu Rd railway station to Lambton Quay.’’
Mr Gollins said the building could fetch up to $3m when it goes to auction on November 19.

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