Listing Ref: 800

Property Name: The Statesman
Address: 1 Parliament Street, Auckland
Property Type: Management Rights
Sale Type: Business
Price:
Region: Auckland

Location

The Statesman is located on the corner of Parliament Street and Anzac Avenue, a main arterial route to and from Auckland CBD to the motorway. The apartment building has good profile toward Auckland Harbour and over a surrounding reserve with access to car parking situated in the basement levels.

Surrounding development comprises a mixture of hotels, serviced apartments, residential apartments and local businesses including the High Court and University complexes. Small retail businesses also frequent this area.

The location is desirable to tenants for business, university and recreation activity.

Features

The total complex comprises 229 apartments and the vendor advises these are consented for residential short and long term letting. The complex was completed in 2004, and the Body Corporate appointed a manger to undertake general building manager duties.

This position has been expanded by the current manager who has established a letting pool of apartments into a profitable additional income stream.

This business and manager's role is being offered for sale.

The term of the building manager’s role is 10 years with 1 x 6 year right of renewal, expiring 14th January 2020. The Body Corporate provide a manager’s apartment, car park and office situated on the ground entry level, and reimburses the building manger for rent and outgoings for the real estate space.  A management fee is paid to the building manager, and is reviewed from time to time, CPI Indexed.

Manager's Apartment & Office          

Provided by the Body Corporate.

Financials       

Inspection and confidential information will be made available to qualified purchasers after discussion with the broker.
 

Contact

Please contact Lindsay Sandes 021 895 940, lindsay@resortbrokers.co.nz