Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


High returns in Lower Hutt

High returns in Lower Hutt

Two of Wellington’s properties are up for sale in the Lower Hutt region offering potential investors a unique opportunity. JLL has been appointed to market part level 4, Woburn House, Bloomfield Terrace and Building E, 59-61 Marsden Street both in Lower Hutt.

John Persico who is responsible for both of the sales says, “Investment properties in the sub $1.0m price range are a rare commodity on today’s market and the attractive returns of 9% on both the properties is very appealing to investors.”

“Situated opposite the Westfield Shopping Centre, Woburn House is in a high profile downtown commercial area. The property has had a substantial upgrade recently and is in immaculate condition so we are anticipating interest from a wide range of potential buyers.”

The Woburn House property is located toward the eastern fringe on a prominent street corner opposite the eastern end of the Queensgate complex. The lettable area is a part floor of 429 sqm and the building currently includes tenants such as Corporate Connect who occupy the Level 3 and Avanti Cycles on the ground floor.

The property is leased to the Pinnacle Corporation which is an established company of 23 years standing with sixteen subsidiaries. Personal Guarantees from the shareholders are another feature.

Property two is an industrial property situated at 59-61 Marsden Street. The Central Lower Hutt site is conveniently located to the main arterial routes and has dual access from Bridge Street and Marsden Street. In a popular Lower Hutt industrial location, the property is multi-tenanted and offers all major services. John Persico says, “With four tenancies, the spread of vacancy and cash flow risks makes a property of this type attractive to investors. The Hutt Motorway (SH2) is nearby and access has been enhanced in recent times by the completion of a new interchange from Hutt Road at Dowse Drive.”

The property is part of an Industrial Complex which has been proven over the last 20 years to have 100% occupancy due to the fact it suits a large number of traditional Lower Hutt users.

Woburn House has a net rental of $67,853 per annum and has an asking price of $750,000. 59-61 Marsden Street has a net rental of $63,975 which gives a return of 9% and an asking price of $710,000.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Fulton Hogan's Heroes: Managing Director Nick Miller Resigns

Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

ALSO:

Gordon Campbell: On Electricity, Executions, And Bob Dylan

The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

ALSO:

Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season

Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news