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Whangarei Central, Whangarei District, Northland, 110-112 Bank Street WR42553

Auction 09 Sep 2022
Unless Sold Prior

High Exposure A-grade Investment

On offer is one of Whangarei\'s most prominent corner sites. Two freehold titles make up 110-112 Bank Street. Towering over the roundabout where the arterial routes of Bank and Dent Streets meet, this tidy property offers ample exposure. The main building overlooks Laurie Hall Park, Farmers department store and most of the downtown Whangarei. The direct area includes restaurants, Rabobank, Court House, chartered accountants, and law-firms all within 100 meters.

The property boasts a main two story building, a smaller road-front tenancy and 13 much desired off-street carparks. The road-front tenancy has been tenanted by London Barber for over a decade. With a footprint of approx. 261 m2 and a total floor area of approx 490 m2, the main building houses 4 well established tenants leaving no tenancy vacant.

The tenants include; The Perpetual Guardian Trust, The Property Group, Arcline Architecture, BECA engineering and The London Barber Shop. With BECA moving to a larger space later this year, a new lease is already in place for AEC NZ leaving no losses for the new owner.
All carparks are leased by tenants of the property.

The two titles of approx. 405 m2 and approx. 407 m2 each, bring the total land area of the property to 812 m2.
The property is constructed from precast panels and steel portal framing. A detailed seismic assessment from March 2020 indicates the property achieves a seismic score of 100% NBS.

Secure this solid investment at auction on 9 September at 12.00 (unless sold prior)

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Main Property Features

Listing Number: WR42553
Approx Floor Area:
490 sqm
Property Type:
Office, Retail
Photo of Peter Peeters AREINZ
Peter Peeters AREINZ
Licensed REAA 2008
Photo of Paul van den Berg
Paul van den Berg
Licensed REAA 2008

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Harcourts Whangarei
33 - 35 Robert Street Whangarei
Licensed REAA 2008

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