Split Risk Tenanted Investment at Selwyn Centre

188 Great South Road, Papakura, Papakura

Split Risk Tenanted Investment at Selwyn Centre

188 Great South Road, Papakura, Papakura

Property Type: Office
Total Area: 813sqm
Price: Price by Negotiation
Reference Number: JG03947

Favoured by our Client, James Group are pleased to offer this prime parcel of commercial property in the ever-popular Papakura precinct for sale by negotiation. This split risk investment is situated in the heart of Papakura and offers 9 unit titles - 8 of which are currently tenanted and returning $85,598.37 net per/annum. The 9 Unit titles collectively make up the first floor of the Selwyn Centre with Tenants including; The Papakura Business Association, James Cook High School, D Rice, Neate & Co, J Burton, Rau Accounting, and more.

The split-risk opportunity offers the potential to strengthen the leases as some of which are under rented and short term. The Business Metropolitan Centre Zone allows for future height redevelopment in compliance with the Unitary Plan. The Selwyn Centre is located in close proximity to Papakura's Rail Way Station, offering a perfect opportunity for investors or developers with a keen eye for redevelopment in the future.

Available Upon Request: Lim Report, Record of Titles, Current Leases, Body Corp Rules, Pre-Contract Disclosure Statement.

Key Features:

• 9 Unit Titles
• 8 Units currently tenanted returning $85,598.37 net per/annum
• Vacant Unit appraised at $9,200 net per/annum
• Add-Value Potential with rental upside
• Zoned Business Metropolitan - Town Centre
• Perfect Opportunity for Redevelopment in the future
• By way of Deadline Sale 10th September 2020

Located approximately 30km South of Auckland CBD and 20km from Auckland Airport, Takanini and Papakura are increasingly regarded as some of Auckland's fastest growing and top emerging commercial and industrial hubs. Both locations are supported by a local labour force, are in close proximity to SH1 and are one of the few suburbs still offering both land and affordable rentals.

Henry Mann
021 191 1260
henrymann@jamesgroup.co.nz

Roman van Uden
027 313 8803
romanvanuden@jamesgroup.co.nz