Focus on Property has facilitated the purchase of 1 & 19 Devonport Road for an existing client. With a commanding CBD location and a bold design, 1 Devonport Road gets your attention. Anchored by a 10 year lease to a National tenant and adjacent to numerous development sites, this property is positioned well to benefit as the immediate landscape changes. It is a challenging retail environment but we a confident in the growth of the CBD and it’s revitalisation, we will be working hard to reposition and bring life to downtown Tauranga.
19 Devonport is known as the Davies Building and has been identified as earthquake prone, we intend to strengthen or demolish depending on the outcome of further Structural Engineering assessments.
Purchase Yield 4.36% (passing yield)