Hargreaves Street

25 Hargreaves Street, Freemans Bay


This property was purchased with the philosophy of good cash flow supplemented by some development upside in the medium term.  Location purchased the property in November 2006, and reworked leases and rent reviews with existing tenants to provide both increased cash flow and certainty of tenure.

The property is situated in Hargreaves Street, Freemans Bay in the sought after College Hill area.  College Hill enjoys easy access to the CBD and all motorways via major arterials.  The property is also within close walking distance of the popular shopping and cafe area of Ponsonby.

The property comprises a two storied functional warehouse / workshop industrial building with associated offices to part of the upper level.  A warehouse component is located at first floor level to the rear of the property.

At time of lease terminations, the concept is to redevelop the existing building into showroom, office and residential.  The ground and first floor commercial spaces have excellent road frontage and high visibility, lending themselves to a retail / office use.  Above levels 3 & 4 will be two levels of new residential with 12 apartments being proposed.

An excellent investment with holding income and development upside, in another land pressure area.