High Return, Low Maintenance Investment!
Great opportunity to secure this unique investment (comprised in two parts) with "Blue Chip" tenants at 184 Symonds St in the upwardly mobile, redeveloping Eden Terrace precinct. Located on and within Citta Apartments, this modern apartment complex is situated on the south-eastern edge of one of the Auckland region's busiest urban intersections.
Investment - Part 1
Carparks - 14x single plus 2x tandem (18 spaces in total) in one cluster. The carparks are all accessory units (AU) attached to a Principle Unit (PU) located in the Citta Apartment Complex. Fully leased to Wilsons Parking since 2011 on a year to year basis. A 2x2x2x lease was negotiated in early 2016, effective from 1 June 2016.
Investment - Part 2
Outdoor Advertising Space - 3 x Outdoor Advertising Display Spaces (as three Principal Units PU) with high visibility. Situated on the high-profile faade of the Citta Building the three display spaces address the confluence of Symonds St, Khyber Pass Rd, New North Rd and Newton Rd.
Approximately 55,600 vehicles per day (7-day average) pass through this major regional intersection on the edge of the Auckland CBD. In addition, significant numbers of pedestrians pass by the building and cross the intersection daily.
The three outdoor advertising spaces are leased to QMS Media (formerly iSite media) for a 10-year term (4 years to run) under a revenue-sharing arrangement.
This two-part offering (being sold as a single investment) will have appeal to first-time investors, family trusts or someone who is looking for a stable income with no maintenance investment.
Full Information Memorandum available on the signing of a confidentiality agreement available from the exclusive listing agent.
Call listing agent Elena Styles on 0221758050 for more information.