Colliers Logo for Web-1

Essential Investment + 3 Bed Apartment in Milford

Freehold land area1,146m² | Returning $108,680 pa net | Essential Service - longstanding vet clinic

 
 
31 Shakespeare Road 1
31 Shakespeare Road 2
31 Shakespeare Road 3
31 Shakespeare Road 4
31 Shakespeare Road 5
31 Shakespeare Road 6
31 Shakespeare Road 7
31 Shakespeare Road 8
31 Shakespeare Road 9
31 Shakespeare Road 10
31 Shakespeare Road 11
31 Shakespeare Road 12
31 Shakespeare Road 13
31 Shakespeare Road 14
31 Shakespeare Road 15
31 Shakespeare Road 16
31 Shakespeare Road 17
31 Shakespeare Road 18

The Opportunity

Rarely are properties of this calibre offered to the market in Milford. Featuring a longstanding vet clinic on a long term lease which has been in occupation at this property for over 24 years, and a modern 3 bedroom, 2 bathroom first-floor apartment with 2 car parks, this is a mixed-use investment that demands serious consideration.

The popular veterinary clinic which is an essential service and fully operational over lockdown has recently been purchased by Animates Holdings Ltd - New Zealand’s leading pet retail store. They are committed to a long term lease with a net commencement rent of $108,680 pa over net lettable area of 866.5m² + seven car parks, showing excellent long term upside.

Features: 

  • Essential Service - longstanding vet clinic
  • National tenant – Animates Holdings Ltd
  • Concrete Construction with new roof (2018)
  • Total Income potential - $152,620 pa
  • Freehold land area – 1,146m² with 9 car parks
  • Rare Milford Opportunity – don’t miss out!
  • Net lettable clinic area – 866.5m²
  • Returning $108,680 pa net
  • 4 Year initial term + 3 x 3 year ROR’s
  • Modern 110m² 3 bedroom/2 bathroom apartment
  • Appraised rent - $43,940 pa ($845 per week)
  • Fully consented and well maintained

Inspections are strictly by appointment only. Call either of the Sole Agents now to register your interest or to arrange a viewing.

*Boundary lines are indicative only.


Highlights

31 Shakespeare Road slide 1

Appraised rent $43,940 pa ($845 per week)

The modern, first-floor apartment has been tastefully renovated in 2016 and features three well-proportioned bedrooms and two quality bathrooms. The rental for the apartment has been independently appraised at $43,940 pa (March 2021), however, will be settled as vacant possession.

31 Shakespeare Road slide 2

Rare Milford Opportunity

Centrally located on a 1,146m² fee simple title accessed from Shakespeare Road, the property is only a 3 minute walk to the Milford Shops and a short 15 minute stroll to Milford Beach. Other amenities such as North Shore Hospital, Smales Farm, Takapuna CBD, Takapuna Beach, Wairau Park are all in close proximity and Auckland’s CBD Is a short 12 minute drive away (off-peak).


The Agents

Shoneet Chand - NEW BRAND

Shoneet Chand

Director

Auckland North

Licensed under the REAA 2008

Matt Prentice-1

Matt Prentice

Director

Auckland North

Licensed under the REAA 2008


Location


Sales Process

DEADLINE PRIVATE TREATY 3RD NOV 2021 16:00 (UNLESS SOLD PRIOR)


Enquire Today