Two Dependable Investments with Enviable Covenant_Property for Sale
Two Dependable Investments with Enviable Covenant_Property for Sale
3 & 7 Mauranui Avenue, Epsom, Auckland, 1051, NZ

Two Dependable Investments with Enviable Covenant

Asset Description

JLL are proud to present to the market 3 and 7 Mauranui Avenue, Epsom. Seldom does an opportunity present itself to secure two perpetually renewable ground Lessor's (freehold) interests with the potential to capitalise on future rental growth.


Both assets incorporate leasehold interests, owned by Sime Darby Property (NZ) Limited and have matching lease terms, being 21-year perpetual lease periods with 7 yearly rent reviews to market with the next occurring on 1 September 2026.


3 Mauranui Avenue, being the closest to St Marks Road, is a 1,478sqm (more or less) site which is currently improve with a 2-level office block serving as Sime Darby's local head office. 7 Mauranui Avenue is 1,277sqm (more or less) and is currently being used as a single-level workshop. Both are a generic rectangular shape, with a level gradient.


The properties are available separately or together.


These properties form part of the 'Portfolio of the Century'.


For sale by Tender closing 4pm, Tuesday 17th September 2024. All offers are to be lodged at the JLL offices located at Level 16, HSBC Tower, 188 Quay Street, 1010.

...

Attributes

Land area gross
29,655 sf
NOI
£228,000
Zoning
Business - Mixed Use

Media

Investment Highlights

Investment Highlights:

  • Quality International Lessee Covenant
  • 7 yearly rent reviews to market with the next occurring in 2026
  • 21-year perpetual ground leases
  • Matching Lease terms on both titles
  • Zoned Business - Mixed Use
  • Close to Newmarket Train Station and Westfield Newmarket


3 Mauranui Avenue:

  • 1,478sqm
  • Returning $261,550 net pa


7 Mauranui Avenue:

  • 1,277sqm
  • Returning $230,250 net pa
Two Dependable Investments with Enviable Covenant 4_Property for Sale
Two Dependable Investments with Enviable Covenant 4_Property for Sale

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Two Dependable Investments with Enviable Covenant (0 Properties)

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Last updated
2 Oct 2024