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South Dunedin, 229 King Edward Street

Fully Tenanted Investment

Contact agent for more information

Sold
Sold
Listing Number: DU95405
About this listing

SOLD - This listing was sold in January 2020.

- Ideal first investment or addition to your portfolio
- Freehold land area of 250m2.
- Floor area 230m2. Tenancy's of 153m2 & 77m2.
- Two long term tenants on new leases until 2024 & 2025.
- Tenants pay 100% of the outgoings.
- Samurai Sushi had total upgrade and new fitout 2006.
- Net income $32.000.00 p.a. CAP rate 9.14% @ $350,000.
- Earthquake report is available.
- Purchased by current owners June 2004.
- Inspection with the Sole Agent only.
- Act now as the property will not be long on this market.
Property Information
  • Approx Floor Area: 230 sqm
  • Land Size: 250 sqm
  • Property Type: Retail
  • Approx Floor Area
    • Retail Square Metres: 230
  • Land area
    • Yard Square Metres: 20
  • Commercial information
    • Zone: Principal Centre
  • Tenure: Fee Simple
  • OPEX $: 7888.72
  • Tenancy: Total rental if more than 1 tenancy $ (+ GST): 32000
  • Tenancy 1: Area Sqm: 153, Commencement Date: 01 January 2018, Expiry Date: 01 January 2024, Rental net/gross p.a.: 22000, Review Dates: 1/1/20, 1/1/22, Rights of Renewal: 2 further terms of 2 years, Tenant Name: Samurai Sushi, Term (years): 2 years
  • Tenancy 2: Area Sqm: 77, Commencement Date: 01 May 2019, Expiry Date: 30 April 2025, Rental net/gross p.a.: 10000, Review Dates: 1/5/21, 1/5/23, Rights of Renewal: 2 further terms of 2 years, Tenant Name: St Vincent de Paul, Term (years): 2 years

Contact Details

Harcourts Dunedin

Highland Real Estate Group Ltd

Licensed REAA 2008

16 Queens Gardens
Dunedin
Office website

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