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

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news