Positioned on ever-popular Carlyle Street, this split-risk investment offers four income streams across two stratum in freehold titles, combining established rental income with longer-term flexibility.
The property returns approximately $111,670 net per annum and is fully leased across both levels. The ground floor is occupied by established tenants Alphaxe, Archery Ltd and TNT Customs, while the first floor has a new lease in place to The Potters House Christian Church.
The property is further supported by nine onsite car parks, dual access from Carlyle Street and Craven Terrace, and a strong 91% NBS (‘A’ Grade) seismic rating.
Originally constructed in the early 1990s as a gymnasium and physiotherapy complex, the building offers a flexible configuration suited to a range of commercial uses.
Located on the fringe of Napier’s CBD, the property sits within an established commercial precinct occupied by a broad mix of national retailers, automotive operators, hospitality businesses and trade users.
Zoned Fringe Commercial, the property also provides longer-term flexibility for a range of future uses, including potential residential conversion or redevelopment, subject to the usual approvals.
Overall, this is an affordable add-value investment offering diversified income, strong seismic performance and future redevelopment potential in one of Napier’s most tightly held commercial locations. Contact Ash Hames for further information.
Features:
* Floor Area approx. 950m²
* Land Area 1020m²
* 91% NBS seismic rating
* Net Income $111,670 + GST
* Two Stratum in Freehold Titles
