- For Sale
Colliers is pleased to present to the market for the first time as a freehold investment, 44 Taradale Road in Napier. The property comprises of 4893m² of residentially zoned land with dual access to both Taradale Road and Veronica Avenue, this land encompasses 22 stratum in freehold titles with 22 leasehold units (21 year perpetual leases) which together produce a combined net return of $102,300.00 p.a.
The property is the epitome of a stress-free low-risk investment. With all dwellings onsite managed by a body corporate and owned by the lessee’s, the owner has no maintenance or general upkeep expenses, nor depreciating assets, and with generous rent reviews every 7 years there is room for serious upside for those with an eye to hold the property long-term. The rent has increase approx. 7% per annum for the past 14 years, underpinned by the surge in residential land values.
The Information Memorandum is available for download via the Secure Documents link at https://www.colliers.co.nz/p-NZL67016025
Ref #: 20785685