134-136 Dent Street, Whangarei Central, Whangarei

Located in the Town Basin precinct this well positioned property is worthy of consideration by both investors and owner/occupiers. The ground floor area of 600sqm is split into two equal sized tenancies with 134 Dent Street being available as vacant possession. This space is configured as an open plan office of 138.5sqm accessed from Dent Street with a workshop of 153.5sqm to the rear, accessed through a roller door from the service lane. Expected market rent for the whole tenancy: $50,000 plus GST and outgoings.136 Dent Street is tenanted by Scripps Electrical Limited on a two year term from 1 August 2024 with two further rights of renewal of two years each and final expiry on 31 July 2030. This tenancy has a reception and parts area at the front and a service workshop with a roller door at the rear.Further rental income from the upstairs offices returns an additional $900 per week.Rental income is currently $40,893 plus GST (Scripps Electrical) less a ground lease of $13,500, leaving a net of $27,393 plus GST and outgoings. The upstairs space returns $46,800 incl GST.