Unbeatable North Shore Opportunity!

163-169 Lake Road, Belmont, Auckland

Investment / Residential / Retail For Sale

For Sale by Deadline Private Treaty closing at 4pm Wednesday, 27 Nov 2019 (Unless sold prior)
Land Area: 1,920.00 m2.    Floor Area: 682.70 m2.    

Description

163-169 Lake Road, Belmont, is a unique North Shore opportunity that must be given serious consideration.

With a combined net rental of $206,900 pa, the offering is unique as it is currently suitable to developers or owner occupiers, as well as land bankers or investors who will benefit from the considerable holding income and develop in the future.

Fully tenanted with six tenants across four separate buildings, this ‘split risk’ investment is significantly underdeveloped, with enormous potential. With circa 25,000 vehicles passing daily (December 2016 stats), the tenant mix features an established Fruit & Veg Shop, Hells Pizza, a Pregnancy Spa & Wellness centre, Fashion Sewing School, and two residential units with garaging.

Featuring a combined land area of 1,920m², the titles are unique as they benefit from both Business Local Centre and Business Mixed Use Unitary Plan zoning.

Prime opportunities of this calibre are very scarce in this tightly held location, with this being one of the largest land holdings available on the peninsular.

Call the Sole Agents now for further information, or to register your interest.

Features

  • 1,920m² land area across 2 freehold titles
  • $206,900 pa net income with tenants eager to extend leases
  • Prime corner site with over 77 metres of road frontage
  • Excellent exposure with high traffic count
  • Business Local Centre & Business Mixed Use Unitary Plan Zoning
  • Six tenants – split risk amongst four commercial & two residential
  • Significantly underdeveloped - Enormous potential!
  • Affluent location with excellent public transport
  • Suitable for investors, land bankers, developers & occupiers

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