1B/142 Broadway, Newmarket, presents a remarkable investment opportunity.
JLL is marketing the property, and it will be going to auction at 10.30am on Thursday, 13th June 2024, at the JLL Auckland Central Offices, Level 16, 188 Quay Street, HSBC Building in Auckland CBD.
Situated along Broadway, the main thoroughfare of Newmarket, this property boasts an unrivaled street frontage, making it a prized location for any business.
Currently fully occupied by two long-standing tenants, who have enjoyed a combined occupation of 28 years, this property offers stability and reliability in rental income.
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The location of the property is a major advantage, as it is centrally located in Newmarket, providing easy access to a wide range of amenities.
The Newmarket Train Station, Westfield Mall, and numerous other facilities are within close proximity, making it an attractive spot for businesses and customers alike.
In addition to its prime location, the property comes with one car park and multiple signage rights on the building, further enhancing its value and visibility.
Investment highlights of this property are numerous.
The high-profile unit offers a spacious floor area of 297.5 square meters in Net Lettable Area (NLA).
With both tenants already in place and a net income of $188,223 plus GST per annum, this property provides a steady stream of revenue.
There is also potential for rental upside, ensuring the possibility of increased returns in the future.
The property itself is well-maintained and features modern shop fitouts, enhancing its appeal to businesses and customers alike.
The vendors, who have owned the property for almost two decades, are highly motivated to sell. This creates an excellent opportunity for investors looking to enter or expand their presence in the Newmarket market.
- Supplied by JLL
