Next to Mt Eden Tube

78 - 96 New North Road, Eden Terrace, Auckland

Description

– Net Return of $869,395 pa + gst.
– Mixed Use site consisting of 3,067 sqm.
– Fully tenanted with potential for rental growth.
– IEP of 82%.

Auckland’s City Rail Link is simply the best thing that could happen to this property. View it at: https://www.cityraillink.co.nz/crl-stations-mount-eden

Located on the corner of New North Road and Ruru Street in Eden Terrace provides close proximity to Mt Eden, Kingsland, the CBD and Dominion Road. The immediate should experience a lift in market rental rates and capital value as infrastructure projects near completion. The surrounding residential catchment areas include some of Auckland’s more affluent city fringe suburbs which are all easily accessible and in close proximity to this asset.

The tenancy consists of a mix of commercial and (bulk) retail operates who enjoy ample car parks and rental rates that are significantly less than CBD premises. The largest tenancy Jetts Gym are anchored to the site on an eight year lease with some of the other significant tenancies on 4 – 6 year lease terms. The ground floor tenancies facing Ruru Street could be suitable for future conversion into smaller retail to lift the square metre rate as Mt Eden Tube stop becomes operational.

Listing Agent

David Huang
021 888 819
david.huang@blackhaus.co.nz

Simon Aldridge
021 774 951
simon.aldridge@blackhaus.co.nz

Contact

Level 4, 8 Commerce Street, Auckland CBD, 1010

follow us

Black Haus Limited licensed under the REA act 2008