Affordable Freehold Investment – New 12 Year Lease

19 Busby Street, Blockhouse Bay, Auckland

Investment For Sale

Auction to be held at 2pm, Wednesday, 25 Sep 2019 (Unless sold prior)
Land Area: 847.00 m2.    Floor Area: 248.00 m2.    

Description

Do not miss this opportunity to acquire a rare Auckland freehold investment featuring a successful, longstanding tenant on a new lease plus future development potential in an affordable price range.

The offering features a new 12 year lease currently returning $84,240 pa + GST & OPEX and is tenanted by Busby Street Childcare Centre. The centre is well established within the local neighbourhood having been run at the address for over 40 years with current tenants being experienced operators who have owned this business for over 6 years. They have a long family history in the industry, also running a large centre in North Auckland. Attendance rates have always been strong with the business recently increasing the licence number to 36 children.

The large 847m2 site zoned Mixed Housing Suburban has a flat contour and is well positioned for future development with the surrounding sites a good example of successful intensification. Blockhouse Bay continues to be a proven suburb to invest in with characteristics such as its proximity to the CBD, motorway network, Northerly aspect, large residential catchment and tightly held commercial property market being a few key factors. 

Colliers International is exclusively offering this property for sale by Auction at 2pm on Wednesday the 25th September 2019 at Level 27, 151 Queen Street, Auckland City.

For further information or to arrange an inspection (strictly by appointment only) do not hesitate to contact either of the sole agents below.

Features

  • Net Income of $84,240 p.a. + GST
  • New 12 year lease from June 2019
  • Annual CPI Rent Reviews + 6 yearly market reviews
  • Final Lease expiry in June 2043 (if all RORs are exercised)
  • Licensed for 36 children – rate of $45 per week
  • Level 847m² site with development potential
  • Established Childcare Centre – 40 year history
  • Proven area with large residential catchment
  • Rare opportunity in affordable price range

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