289 Devon Street East represents a low risk and low maintenance investment opportunity with a great tenant and fixed rental growth.
The 690 sqm site is improved by a modernised single storey retail / office building recently re-roofed and refurbished.
The building takes up only 26% of the site, allowing the lease of 20 car parks which is gold in New Plymouth's park starved market. The building has an A+ seismic rating over 100%NBS. Leased to Lionsher Technologies Ltd t/a Spark Business Centre until June 2023 with a right of renewal.
Situated on the high profile corner of Devon Street East and Eliot Street (SHWY 44), benefitting from exposure to south bound traffic and those leaving the CBD to Fitzroy and the eastern suburbs. An outstanding investment for the portfolio. Great location, tenant and a low maintenance building.
A lot upside through both the rental and future development potential. Situated on a corner which will never go out of favour.
For sale by way of Deadline Private Treaty. Calling for best offers by Wednesday, June 2, 2021.
For more information or to arrange an inspection contact:
Benet Carroll on 021 0289 4537 or email email@example.com
Ref #: 20688315
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