Property listing ID: 4111488
There is way more to this property than meets the eye... Upon initial sighting from the street, what looks to be a standard two level heritage-style building with retail below and accommodation above gives way to a contemporary residential apartment complex built over four levels at the rear of the site. The property is unique - in a good way. The retail location is absolute prime for Ponsonby Road. The apartments at the rear offer a standard, size, and living environment you would not expect to find in this location, although a full redecoration is due for all. These tenants are on periodic lease terms; however, the fact that two apartment tenants have been resident in excess of eight years speaks volumes for the living environment. The retail lease has a final expiry in November 2033, with the tenant already asking for extensions. This property will suit investors, owner-occupiers and those looking for a mixture of the above. Inspections are only by arrangement. KEY FEATURES: • Fee simple and standalone property holding • Land area 483m² • Building area approximately 800m² • On-site parking for six cars, four secure garaged parks • Multi-income streams • Three residential apartments • Ponsonby Road prime retail frontage plus a separate upper floor commercial potential • CV $4,850,000
Listed by Barfoot & Thompson , Murray Tomlinson (City Commercial)