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Invercargill, 101 Dee Street & 89 Spey Street

High Return Commercial Investment With Growth Potential

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Listing Number: IV39278
About this listing
Current return $119,005+ GST + 65.5% of outgoings Potential up to approximately $145,000 + GST + outgoings *
Multi Tenancy 12 approx. Building with good Earthquake rating at 101 Dee Street with adjoining 18 Car parks at
89 Spey Street.

Extensively renovated 2 storey building with a mixture of retail tenants, restaurants, and office tenants. Multi tenants will always give you a cash flow. The adjoining 18 car parks make these spaces easier to lease and are essential for the tenants. With multi tenants, instead of getting a rent review every 3 years or so you will get several each year which gives you a steady growth. Good Earthquake report is available.
Land area : Dee Street—938m2, Spey Street—462m2.
Total land 1400m2.
Building size 1350m2
*Currently Returning approx. $ 100,506 pa + GST + $18,500 + GST on the car parks Total $119,006 pa + GST + approx. 67% of the outgoings. Approx. $25,000 + GST more when the 2 vacant spaces are leased. Plus a few are due for a rent review i.e. `Total potential of an estimated extra $25,000 + + Making a Total estimated income of $145,000 + GST + Outgoings when full. NB Carparks are only $20 per Week + GST. (Neighbours next door car parks = $30 Per week+ GST)
* 67% outgoings are currently recovered. Approx. $5,634 + GST is not recovered currently.
The out of town vendor is motivated to sell—Your Opportunity !

NB Rental income is from 12 tenancies + 18 car parks. The rent is a moving target.
Contact David for a multi page brochure and the Earthquake report. Inspection by appointment with David McKillop 027 434 0709 or email: david@harcourtsinv.co.nz
Property Information
  • Tenure: Fee Simple
  • Property Type: Retail, Tenanted Investment
  • Property Features: Building Name: Courtville Place
  • Approx Floor Area
    • Retail Square Metres: 1350

Contact Details

Harcourts Invercargill

Holmwood Real Estate Ltd

Licensed REAA 2008

182 Dee Street
Invercargill
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