2 Memorial Square, Martinborough
2 Memorial Square, Martinborough, Wellington, 5711, NZ
391 m²
Asset Description
Looking for an investment that is affordable, bankable and reliable? This tidy retail block of shops has been owned by the same property company for 17 years and is now reluctantly for sale. Rentals are low and there is upside for increased income from sitting tenants. Earthquake report just completed 2025.This is a great property for a first time commercial investor or simply add to an existing portfolio.
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Attributes
Building area net
220 m²
Land area gross
358 m²
Zoning
Business Town Center
Media
Investment Highlights
• Corner block including four retail shops
• Currently returning net $52,563 p.a.
• Freehold land of approx. 358sqm
• Building area of approx. 220sqm plus car parks
• Zoned Business Town Center allowing for future redevelopment options including commercial, residential and retail
• Road frontages of approx. 18 meters to St George St and 27 meters to Rangitoto Road
• Property under-rented, opportunity for upside for new owner
• Solid earthquake report of 40 %
• Part of bustling Papatoetoe Town Center
• Only 450 meters to Papatoetoe Train Center
• Little if any retail vacancies in this area
• Long standing tenants giving regular income
• Owner dissolving property trust – time to sell
Contact brokers
22-26 St George Street, Papatoetoe, Auckland (0 Properties)
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Last updated
11 Mar 2025
