3 Union Street, Auckland Central, Auckland

Central City Investment with Government Tenant

• Auckland City investment with Crown as anchor tenant
• Modern freehold standalone building with Grade A seismic rating
• Fully leased and currently returning $332,823 + GST p.a. (net)
• Bottom drawer investment that must be considered by all investors

Originally a 1980's commercial building, 3 Union Street was substantially redeveloped, structurally strengthened and converted into residential accommodation in 2013. Now it consists of 17 well-appointed studio and one-bedroom units, carparking, billboard and a rooftop terrace. The building was also structurally strengthened to Grade A standard (100% NBS).
The property provides an attractive cashflow of approximately $332,823 + GST p.a. Anchored by a lease to the Government.

Further income is derived from a billboard which has massive exposure to over 10 million vehicles annually. Motorways are at the property's doorstep, the CRL's Aotea and Karangahape Road stations are both within walking distance and an array of amenity (including City Works Depot, Viaduct Harbour, Auckland Town Hall, Victoria Quarter Precinct, Britomart and Karangahape Road Precinct) are nearby.

Please do not hesitate to contact a member of the project team in regard to any aspect of the content included in this document or to arrange a viewing of the property.