Three investment opportunities have become available in popular and fast-growing Auckland suburbs.
Commercial sales and leasing consultant Dave Lane from NAI Harcourts North Shore, who is listing all the properties in Te Atatu and Millwater says they provide options for astute investors.
“There are twin Childcare Centre properties at 633 and 635 Te Atatu Rd with eventual redevelopment potential in two modern properties with long-term tenancies.”
These properties are to be sold as one package.
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The current tenant is a well-established thriving childcare business with an excellent occupation rate.
The current building structure consists of two 1960s houses each on their own titles offering a 1350sq m combined site.
Childcare Centre occupies the two separate houses which return $151,000 net a year plus GST and outgoings. The current term and rights of renewal runs to 2033.
The tenant has carried out extensive improvements to the properties including a significant expansion to one of the buildings.
This area has become popular over the past decade due to new housing and its close proximity to the western motorway offering convenience for commuting to the CBD and North Shore.
The Business – Mixed Use zoning gives excellent longer-term opportunities to developers.
Lane says the property at Unit 4/1-3 Rhone Ave offers an opportunity to secure an excellent tenanted investment.
Currently tenanted by Buy West Realty Ltd (trading as Ray White Te Atatu) for over 20 years with a current term to March 2025, this ground-floor office currently returns $69,000 net plus GST a year. The tenant pays all outgoings.
“Situated in Te Atatu Peninsula town centre, amidst retail outlets, shops and eateries on a corner site, this property is a newly refurbished, well-presented, ground-level real estate office consisting of approximately 226sq m and has an excellent profile fronting the Countdown supermarket across the road.”
Millies Café at 10/175 Millwater Parkway is a very popular licensed café with a current term to 2025 and with a right of renewal out to 2035.
It provides an opportunity to secure a quality tenanted investment property with a rental of $69,787 plus GST a year.
Lane says, “All outgoings are paid by the tenant which makes this an excellent passive investment.”
Millwater is a hive of activity with shops eateries, service businesses, amenities, schools and Countdown supermarket.
The residential area has grown exponentially in the last few years and continues to grow with a mix of medium to high priced housing. Many apartments and terraced houses are still being built which will continue to bring business to the area.
All three listings are individually for sale by auction in rooms on 13 May (unless sold prior).
