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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

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