Bayley’s Real Estate are delighted to offer an established university office building located in a highly sought-after area in Auckland to the market.
Fully occupied by New Zealand’s second largest university, 'The Auckland University of Technology’ (AUT) building ‘WY’ sits right in the heart of the CBD, and AUT’s City Campus. The building lies within immediate proximity of Auckland’s Queen Street and is a short walk from the Aotea City Rail Link Station, expected to be New Zealand’s busiest underground train station upon its’ opening in 2024.
Developed in 1988 and sitting on a substantial 1,172sqm* landholding, this education asset presents 9 beautifully laid out levels, 2 of which are dedicated towards basement car parking.
120 Mayoral Drive features a net lettable area of 4,947sqm* and currently returns NZD$1,491,464 p.a net + GST.
As a result of New Zealand’s investment benefits, no stamp duty and no capital gains tax are payable on the asset, thereby inviting interest from international investors.
The office building is for sale by way of tender, closing at 4pm Thursday 24th June, 2021.
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