Dargaville - INVESTMENT BUILDING FOR AUCTION

Description

A centrally located premises in the Kaipara District township of Dargaville the predominant service centre for farmers and other rural labour industries is a retail commercial standalone bank premises, providing a two-level building, fully piled and with a specific Westpac modernised interior.
The Vendor has reconsidered his asking price and is considering reasonable offers.
The building's seismic rating is 67% + NBS.
The freehold land area is approx. 415m² and a building area of 480m² (more or less) including four car parks.
The property is fully tenanted by Westpac Bank with a first term of nine years, commenced March 2011 and R.O.R of three terms of three years each, (lease expiry date 13 March 2029). Current rent is $76,000 + GST. Outgoings are 100% + 5% management fee.
Note: The current term of lease is for three years, extended to 13 March 2026.
KEY FEATURES:

• Land Area 415m²
• Building Area 480m²
• Four car parks

LEASE DETAILS:
Tenanted first term nine years with ROR of three terms of three years each.
Commenced March 2011
Current rent is $76,079 + GST
Outgoings are 100% + 5% management fee