Office for Sale, 5 Moule Street, Addington, 8024 - CBRE Commercial

Overview

Office for sale

Investment with Long Lease - 9.5% Net Return

CBRE is proud to present 5 Moule Street, Addington, Christchurch, for sale. Key information includes: • Asking price $3,475,000 + GST (if any); • 9.5% net return; • Net rental $329,771 + GST pa; • 1.5% fixed rent review annually; • WALT of 5 years as at 1 July 2020; • 6 year ROR with 12 month notice period; • National Government backed tenant - NZ Racing Board (now RITA); • Building area 1,518.1 sqm; • Land area 3,033 sqm; • 28 on-site car parks; • 71% NBS; Telfer Young valuation is available which supports the asking price. Pricing is reflective of secondary office location and contract versus market rental. Enjoy 5.3 years of Government backed income before re-leasing at market rates (with 12 months' notice) or repositioning into accommodation, housing or alternative commercial options. For a copy of our Information Memorandum and to arrange an inspection, please contact one of the agents listed below.
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Sizes and Measurements

Total Size

1,518

Land Size

3,033

Pricing Information

For sale

$3,475,000 + GST

Specification

  • Investment with Long Lease - 9.5% Net Return

Photos

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