A/23 Macaulay Street, Addington, Canterbury 8024

AUCTION BROUGHT FORWARD -
NOW MONDAY 4th DECEMBER AT 5PM
Our owners have enjoyed the benefits of this investment for almost 40 years and have made the decision to relinquish this 948m2 commercial/residential opportunity.

- 948m2 (more or less; including 96m2 row) RMD (L3) land
- 2 x Workshops. Workshop 1 is vacant, includes mezzanine floor for additional storage. Workshop 2 currently leased at $14,904.00pa incl GST.
- Workshops share an additional storage room, plus toilet and sink.
- Existing use rights
- Both have three phase power
- Both have a sprinkler system and are secure
- Offered on an As Is Where Is basis
- Never insured
- Huge yard space
- Geotech Report Available

So many uses! This would make a great home base for a trade-based business. The new owner may choose to occupy one or both workshops themselves. They may take the opportunity to build a dwelling on site, whilst the workshops continue to generate an income. Or you may choose to develop the entirety of this large north-facing section with a creek boundary!

Vendor will offer to the purchaser a loan secured by 1st mortgage on the following terms:
- Up to 66% of the sale price
- First 3 years at 5% pa
- Final two years at ANZ commercial rate at that time, less 1%
- Interest-only for up to five years paid quarterly
- Right of repayment without penalty at any time
- Quarterly payments made to the vendor's solicitor
- Borrower to pay cost of mortgage registration and any solicitor's collection fees

You have so many options! Our owner has just one, requiring a result on or before auction day!



Please be aware that this information may have been sourced from RPNZ/ Property Guru/ Land Information New Zealand/ Christchurch City Council/ CERA and we have not been able to verify the accuracy of the same Property ID: #IM51344