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New Plymouth, 12 Devon Street West

Investment on Devon for Sale

$925,000 Plus GST (if any)

Listing Number: NP7029
About this listing
In the CBD, this two storied investment property is some 50 meters from the intersection off Currie Street and Devon Street. Prime central location with the building providing a frontage to James Lane on the western boundary by the Huatoki Plaza. When fully tenanted this investment will provide you with five rental incomes.

Currently the first floor has two tenants and the two shops are leased. There is one shop vacant and available for lease at $19,000.00 per annum plus Opex / GST.
The potential income $80,630.00 per annum. Yield 8.7%.

Seismic Rating is "E".

Current rental income is $62,130.00 per annum nett.

Land Area: 280m²
Building Area: 560m²
For Sale: $925,000 plus GST
Property Information
  • Approx Floor Area: 370 sqm
  • Land Size: 280 sqm
  • Property Type: Retail, Tenanted Investment
  • Tenancy 1: Area Sqm: 83, Commencement Date: 01 November 2015, Expiry Date: 30 October 2024, Rental net/gross p.a.: 27130.44, Review Dates: 01/11/2018, Rights of Renewal: 3 + 3, Tenant Name: Paula, Term (years): 3
  • Tenancy 2: Area Sqm: 71, Commencement Date: 17 October 2016, Expiry Date: 16 October 2021, Rental net/gross p.a.: 13000.00, Review Dates: 17/10/2019, Rights of Renewal: 2 + 2, Tenant Name: 24, Term (years): 1
  • Tenancy 3: Area Sqm: 85, Commencement Date: 01 October 2017, Expiry Date: 30 September 2022, Rental net/gross p.a.: 8500.00, Review Dates: 01/10/2018, Rights of Renewal: 2 + 2, Tenant Name: Brooke, Term (years): 1
  • Tenancy 4: Area Sqm: 160, Commencement Date: 01 December 2016, Expiry Date: 30 November 2021, Rental net/gross p.a.: 12000.00, Review Dates: 01/12/2019, Rights of Renewal: 2 + 2, Tenant Name: Brooke, Term (years): 1

Contact Details

Harcourts New Plymouth

Team Taranaki Ltd

Licensed REAA 2008

51 Devon St West
New Plymouth
Office website

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