17 Drake Street, Freemans Bay

price information

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286m² Floor Area

LONG TERM LEASE - STUNNING CHARACTER FREEHOLD

For sale by deadline private treaty closing 2:00 pm, Thursday 24 November 2022 at Level 3, 50 Kitchener Street, Auckland Central (unless sold prior).

Returning $116,848.43 net per annum with 3% annual increase
Long term 12 year lease (seven years to run) underpinned by strong tenant covenant
Stunning 286m² character Freehold building including a 45m² deck with views
Favourable earthquake report at 70% NBS

Located at 17 Drake Street with excellent profile, this premium historic investment property is anchored by long-standing tenant, The Oakroom, returning $116,848.43 net per annum + GST. This blue chip asset is further supported by an unlimited director guarantee and the building has a favourable 70% NBS earthquake report.

Overall, a secure bottom-drawer investment with good rental upside in a strong and emerging central Auckland location that's not to be missed!

For more information or to arrange a viewing, contact the Sole Agent.

Reese Barragar

027 555 2122

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