9 Lydney Place, Porirua 5022, New Zealand

Two story commercial building, located in the heart of Porirua CBD, 2 doors north of Northcity Plaza. Proximity to shops, polytechnic, schools, restaurants, and public transport. Building is reinforced concreate walls with reinforced concreate floor. Four Carparks included and one hundred public carparks adjacent. 

Sunny first floor, currently configured as offices (50k income annually). Bottom floor suit owner occupier can be used as Warehouse, car garage, dance studio, potential for any business. Ground floor currently leased as two shops at front and owner storage at rear. Rental valuation approx $100k. 

Proposed plan to develop first floor into 12 small two story apartments, for long term hold to boost revenue. Could be unit titled and sold off plans to fund the development. Apartments would suit professional couples or students. Carparking not required in distract plan for apartments. Vendor would consider a 50/50 joint venture with builder to build apartments for long term hold. Council is keen to see Porirua have inner city living. 

Future development level 1: 12 Apartments, would rent for $500 per week each = $6000 = $312,000 annually. 

Annual Opex rates apply.

For more information and inquires please contact Dave Green at 027 443 6783.

The offices are currenlty being rented out at:

Level 1

Rental space 1 $28k

Rental space 2  $25k

Ground floor 

Rental space 3 $20k

Rental space 4 $20k

Rental space 5 $20k

Rental space 6 $20k

Total 133k