It's no secret that property is giving a better return than the banks at the moment so why not invest in "bricks and mortar" with this cute retail store with the added bonus of a residential flat on the first floor. Purchasers can take confidence from the seismic report assessing the property at 71% of NBS (New Building Standard)!
The ground floor is currently tenanted by a hair salon until 2023, with the right of renewal until 2026. The first floor is subleased to tenants on a residential tenancy agreement bringing in a total return of $620 per week, with the option to increase to market rates May 2022. Valued for insurance in April 2021 the market rent was assessed at $39,831 making this for very good buying.
Please note the whole building is leased so wouldn't be able to be owner occupied immediately.
This has been a solid investment for our owner for 26 years and now has come the time to pass the baton on to the lucky new purchaser. In this time the building has been enjoyed on the ground floor by a number of businesses and several times the ground floor has simply been enjoyed as an extension to the flat upstairs.
The possibilities of your future here are endless, simply as a hands-off investment to look after your money. Reside on the first floor and work on the ground floor. Reside on the first floor and rent the ground floor there are many ways to make your money work for you.
On first floor there are two double bedrooms, bathroom and kitchen with open plan living and dining.
There is a separate single tandem garage currently in use by the first floor tenants and there is a garden area behind the shop which is fully fenced.
Heating consists of a heat pump and the ceiling is insulated for added comfort. Extractor fans were added to the kitchen and bathroom last year.
This property is to the middle of a block of shops with a multitude of other amenities including a bus stop. Hornby mall is a short walk away with a paved shortcut through Kyle Park.
Zoned for Hornby primary and High Schools, St Bernadette and Pre-school just a short walk away.
To arrange an inspection, please contact Paul Middleditch (0272767047) or Jess Shane (0272534440)
Please note: The purchaser is advised to consider the residential healthy homes bill as part of their own due diligence.
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https://www.propertyfiles.co.nz/property/FM57560
Please be aware that this information may have been sourced from RPNZ/LLUR/REINZ/Property Guru/Land Information New Zealand/Christchurch City Council/CERA and we have not been able to verify the accuracy of the same.
$780,000 47 Stanbury Avenue, Somerfield
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