- For Sale
For SaleAuction 10th Nov 2021 11:00:00 (Unless sold prior)
Benefiting from an enviable position in Onehunga comes this industrial workhorse investment with a plethora of future re-development potential.
Sitting on a 3,332sqm, Mixed Use zoned fee simple title is an older style warehouse and office with plenty of carparking, returning $246,000 net p.a., well under the projected current market rental. The tenant is an essential service and is operable during all alert levels. The buildings floor area totals 2,449sqm comprised mostly of warehouse which is accessible via multiple roller doors. Vacancy for hard-working industrial space in the Onehunga region is at an all-time low so the property has appeal in its current form as well as in it’s future potential.
Te Papapa train station is literally located directly behind the property making the potential of this site all the more attractive from a re-development perspective. The Mixed Use zoning allows for a significant intensification of the site and permits a wide range of activities, including residential. Onehunga is a suburb which has seen ongoing gentrification over the years and there are a number of successful developments in the area which attest to this.
This is the ultimate investment with unlocked future upside. Contact the sole agents for more information.
Ref #: 20777008