A Multi Tenant High Yielding Investment Property
A multi-tenant mixed-use commercial investment on Lake Road, a prominent location on the Devonport Peninsula.
A acquisition deal to secure a well-located asset with diversified income and significant value-add potential.
The property was purchased on an attractive 7.4% yield, providing strong initial cash flow and a solid foundation for future income growth.
A key component of the investment strategy was recognising the property's exceptional corner profile and prominent exposure to Lake Road. With an average daily traffic count (ADT) more than 20,000 vehicles per day, the site offers outstanding visibility for tenants and signage opportunities.
The value-add strategy focused on:
• Enhancing signage revenue through the property's premium corner position.
• Improving the visibility and exposure available to tenants.
• Strengthening tenant appeal through increased brand exposure.
• Maximising the property's overall income-generating potential.
• Continuing to optimise tenant mix and asset performance over time.
This acquisition reflects our investment philosophy of identifying well-located commercial assets with strong underlying fundamentals, multiple income streams and clear opportunities to create additional value through active ownership and asset management.
Add Value Opportunity
Commercial Brokers have identified a value-add strategy aimed at increasing revenue by an additional $30,000 per annum over the next two years.
This will be achieved through the conversion of the existing residential apartment to commercial office use, creating a shared office workspace that caters to small businesses and professionals.
The shared office tenants will benefit from prominent signage opportunities, providing exposure to approximately 20,000 average daily vehicle movements (ADT), as well as strong pedestrian traffic. The additional signage opportunities are a;l compliant with the Auckland Council bylaws.
This combination of additional rental income and high-profile advertising exposure is expected to enhance the property's overall income-generating potential and market appeal.
Gallery
Multi Tenant
Corner Lake rd & Williamson Ave
View out to the City
Located at the Gateway to Devonport
Prime corner retail
Corner Profile