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Prime CBD Office — Fully Tenanted Investment
48 Shortland Street, Auckland CBD, Auckland, Auckland
$8,750,000
2,480 sqm floor
42 parking
Built 2003
Business — City Centre Zone
Seismic: 100% NBS
Description
Outstanding investment opportunity in the heart of Auckland CBD. This well-maintained A-grade office building offers a strong income stream with a weighted average lease term of 4.2 years. The building has undergone a full seismic upgrade to 100% NBS and features modern fit-outs throughout. Three blue-chip tenants on long-term leases provide excellent covenant strength. Building management systems were upgraded in 2022. Positioned on the sunny side of Shortland Street with excellent pedestrian foot traffic and proximity to Britomart Transport Centre.
Highlights
- 100% NBS seismic rating
- 6.98% net yield on asking price
- 4.2 year WALT
- Zero vacancy
- Blue-chip tenant covenants
Features
Fibre broadbandDual liftsAir conditioning24/7 accessEnd-of-trip facilitiesNABERSNZ 4-starBuilding management systemGenerator backup
Tenancy Information
Tenancy
Three tenants: national law firm (Level 4-5, exp 2029), accounting practice (Level 3, exp 2027), co-working operator (Level 1-2, exp 2028). All leases include annual CPI reviews.
Passing Income
$612,000 p.a.
WALT
4.2 years
Vacancy
0%
Net Lettable Area
2,350 sqm
Location
48 Shortland Street, Auckland CBD, Auckland, Auckland, 1010
James Mitchell
Harcourts Commercial Auckland
Licence: REA-2024-08431