Diversify risk with this well-positioned mixed-use investment in the heart of Whangarei.
15 James Street presents a rare opportunity to acquire a high‑quality commercial investment complemented by a beautifully appointed residential apartment above.
The entire property underwent a high‑spec refurbishment in 2024, delivering a compelling combination of strong income, proven tenancy, and modern presentation.
The ground floor is purpose‑designed for AV Beauty & Spa, a well‑established local operator with over 15 years in business and an excellent reputation within the Whangārei beauty market.
The salon showcases refined detailing, including a stylish reception area, timber panelling, and a well‑considered layout. Glass‑fronted with integrated automatic doors, the premises offer a clean, professional street presence. Internally, the salon features centrally positioned manicure and pedicure stations, curtained treatment rooms to the rear, and an efficient, client‑focused fit‑out.
Above, the refurbishment has transformed the upper level into a contemporary inner‑city three‑bedroom apartment. The residence includes a master bedroom with ensuite, open‑plan kitchen and living area, and seamless flow to a private patio deck, providing an attractive residential component that enhances the property’s overall appeal.
The property comprises a total lettable area of 447 sqm, being approximately 328 sqm of ground‑floor commercial retail and 119 sqm of residential accommodation. It generates a strong gross income of $132,120 per annum, with approximately 67% of outgoings recovered through the commercial lease.
The commercial premises are leased to AV Beauty & Spa under a secure six‑year lease with five rights of renewal of three years each. The lease incorporates both market and CPI rent reviews, offering solid income security and long‑term growth potential.
Centrally located with street parking at the front and public parking directly opposite, 15 James Street represents a high‑quality, diversified investment in a proven inner‑city location.
Being sold by Deadline Date Sale closing 2:00pm, Thursday 14 May. Contact Megan (027 346 4194) today to book a viewing and register your interest.
Features:
* Returning $132,120 gross per annum
* Substantial high quality refurb in 2024
* New 6 year lease commencing 1 June 2026
* Established, well regarded tenant
* Good rental growth provisions
* Mixed use Building
* CBD location
* Split risk
