Papatoetoe
129 Great South Road, Papatoetoe, Manukau
+24
True split-risk investment
Key features:
• Extremely high-profile freehold site with two street frontages
• Functional building on Great South Road and Eric Baker Place
• Opportunity for upside in value once fully leased
• Sought-after location within the Papatoetoe Town Centre/Hunters Corner
This extremely high-profile commercial property is located on arguably one of Auckland's busiest arterial routes, positioned on the intersection of Great South Road and East Tamaki Road. The building sits on 890sqm of freehold land with a NLA of 1,207sqm split over two levels comprising retail, office and warehouse tenancies, allowing for a wide range of occupiers.
The property is positioned in close proximity to State Highway 1 with State Highway 20, Hunters Plaza and Manukau City a short distance away.
The property has an indicative market rental of circa $280,000pa net + GST and is currently returning $220,897.30pa net + GST from multiple tenancies with fully refurbished vacancies ready to lease or occupy. This split-risk investment is an opportunity for investors to capitalise on the market growth, fixed annual rental increases and leasing upside.
Call now for more information.
James Valintine
Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008
Geoff Wyatt
Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008
Jordan Brown
Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008
Features
Lease
Currently returning $220,897.30pa net + GST with potential rental upside to $280,707.30pa net + GST, offering immediate income with growth prospects.
Opportunity
Diverse tenancy mix of retail, office, and warehouse spaces spread over 1,207sqm, reducing reliance on a single tenant. Investors and owner-occupiers must investigate further.
Growth
Situated in a growth location near Manukau City and Hunters Plaza benefitting from strong regional growth and demand for industrial and commercial space, and wide residential catchment.
Available
Four (4) vacant tenancies but fully refurbished and ready to lease, presenting an opportunity to immediately increase rental income with minimal additional investment.
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