Much Better Than In The Bank

Land Bank With 7.5% Return
2 titles, 2 frontages, TC2 land.
7.2 - 7.5% return plus all operating costs paid by the tenant.

Opportunity by the sea in this zone which is ripe for redevelopment and with many new attractions planned. Currently zoned "commercial mixed use" with both 123 Seaview Road and 74 Beresford Street being sold together. Two large land holdings of 812 sqm each (1624sqm total) with buildings, which have been repaired by RPC Construction after the Earthquake.

Operating as a car yard, workshop and office spaces for the past 44 years with the same tenant the current lease has a further 4 years to run with rights of renewal. The leases are based on a recent valuation by Valuation Partners and are market value $75,000 plus OPEX.

The long-term use is up to your imagination, but while you are making plans for the future use, the tenant is paying you $75,000 plus in rent.

Please be aware that this information has been supplied by the vendor and/or sourced from: Property Guru, Property Smarts, Land Information NZ, Local Councils, ECAN, CERA and other organisations. Four Seasons Realty 2017 Ltd is merely passing over this information as supplied to us. We cannot guarantee its accuracy or reliability.

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Main Property Features

Listing Number: HR5275

Approx Floor Area:
438 sqm
Property Type:
Warehouse, Land, Office, Retail
Approx Floor Area
  • Retail Square Metres: 438
Fee Simple
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Harcourts Hornby

Four Seasons Realty 2017 Ltd

Licensed REAA 2008

395 Main South Road
Office website or View office details

Property Location