- For Sale
For SaleAuction 10th Nov 2021 14:00:00 (Unless sold prior)
Positioned in a high profile position in a tightly held North Shore location, 961 Beach Road is the ideal, passive beachside investment.
Returning $190,000 with 2% fixed annual rent increases and a 10 year lease to Gull New Zealand from April 2021, the lease also offers two further rights of renewal with a final lease expiry in April 2041. Gull New Zealand are a wholly owned subsidary of ASX listed Ampol Limited and have a network of over 100 unmanned, manned and marina-branded sites around New Zealand.
Occupying a 1,181m² freehold corner site, the site is underpinned by valuable Mixed Use Zoning, which allows residential and commercial development. Given its elevated position, any development would benefit from exceptional sea views, and its close proximity to popular Torbay town centre and Long Bay beach.
Investments of this calibre are rarely offered to the market and highly sought after. Contact either of the sole agents for further information, or to register your interest.
Ref #: 20821167