159A and 161 Russell Road, Manurewa, Manurewa, Manukau

Investment with Built-In Annual Rental Growth

- Well located freehold standalone investment\n- Attractive long term lease to a well-respected tenant\n- Currently returning $173,971.20 + GST per annum (net) with built-in annual growth\n- A straight-forward investment opportunity\n\nThis is an excellent opportunity to secure two well-located freehold properties within a large residential catchment in the major suburb of Manurewa, Auckland. One comprises a recently completed purpose built facility for a ChildCare Centre that can cater for 40 children, the other comprises a modernised residential villa converted to a ChildCare Centre that can also cater for 40 children. The two buildings are leased to a well respected, privately owned ChildCare Centre operator. \n\nThis is a straight-forward investment that ticks all the boxes: two freehold standalone sites, profile position in a major suburb, well-respected tenant, long term lease and built-in rental growth each year. Call for further information and to book your inspection now.\n\nProperty Details:\n159A Russell Road \nLand Area: 804m2 \nFloor Area: 237.61m2 \n\n161 Russell Road\nLand Area:827m2\nFloor Area: 262.83m2 \n\nTenancy Details\nTerm of Lease: Ten (10) years\nCommencement Date: 08 June 2013\nRights of Renewal: Four (4) x Four (4) years\nNet Rental: $173,971.20 + GST\nRent reviews annually with minimum 2% rent increases\n\nTenders Close (unless sold prior)\n4pm, Thursday 31st July 2014\n29 Northcroft Street, Takapuna\nAuckland.