For sale by deadline private treaty closing 4:00pm, Wednesday 5 May 2021 (unless sold prior) at Level 3, 50 Kitchener Street, Auckland Central.
124 Vincent Street is a modern eleven level, air-conditioned office building built in 1986 by Mainzeal Construction and designed by Jasmax Group. The 4,478m² tower comprises eight levels of office and three levels of basement parking sited on a 1,458m² Freehold title.
Fully leased with an annual net return of $1,459,417 plus GST, long term leases and fixed annual growth make this an attractive investment proposition. The anchor tenant is responsible for 77.6% of the net annual rental is an ASX listed global tenant with a $3.5 billion market cap.
Significant services and fitout upgrades were completed in 2018 by the tenant and landlord (in excess of $6 million) and the property has a 70% NBS rating. It is strategically positioned between the Aotea and Karangahape railway station due for completion in 2024.
Upon expiry of the existing leases this building represents as an ideal apartment conversion opportunity.