Prominently positioned on a high-profile freehold corner site along one of Papakura's key commercial thoroughfares, 299 Great South Road presents an opportunity to secure a well-established, multi-tenanted investment with diversified income and strong underlying land fundamentals.
Returning approximately $159,683 net p.a. + GST and outgoings, the property comprises approx. 581sqm of lettable area on a substantial approx. 963m² freehold corner landholding, occupied by five established tenants spanning legal, healthcare, retail and service-based businesses.
Having developed the property in 1985 and retained ownership ever since, the vendor has now reached retirement and is looking to reduce his property holdings and free up capital. 299 Great South Road has consequently been brought to market with genuine motivation to see a transaction concluded.
Adding further appeal is clear rental upside within the existing tenancy profile, with one tenancy in particular offering an incoming purchaser the opportunity to realise rental growth shortly following settlement. This provides an attractive pathway to enhance the property's income and overall investment return from the outset.
For investors seeking an asset that spreads risk, serves the local community and combines immediate income with identifiable rental upside, 299 Great South Road warrants serious consideration.
With diversified income, five established occupiers, a prominent freehold corner position and identifiable rental upside, 299 Great South Road offers the fundamentals investors continue to seek in a tightly held South Auckland location. Offered for sale for the first time since it was developed by the current owner in 1985, this is a genuine opportunity to secure a tightly held investment with a motivated vendor.
Contact the Sole Agents today for further information or to arrange an inspection.
Features:
* $159,683 net p.a. + GST and outgoings
* Five established tenancies providing diversified, split-risk income
* Clear rental upside, with potential to enhance income shortly after settlement
* Approx. 963m² high-profile freehold corner landholding
* 581sqm approx of lettable area
* Excellent Great South Road frontage, profile and exposure
* Community-focused tenant mix across essential and service-based businesses
* Strategic position within the growing Papakura commercial market
* Genuine vendor motivation – portfolio realignment following recent acquisitions
