A prominent Lower Hutt corner property is about to go up for auction.
The Premier Hairdressing College premises, next to McDonald's on the corner of High St and Queens Dr, are being sold by a local family trust.
Bayleys agent Colin Hodge said it was a good spot.
"The Premier Hairdressing College has occupied the building for 13 years and clearly the location has worked well for them.
"This is a simple, straightforward commercial investment opportunity in an area that is burgeoning."
The property, which has a rating value of $790,000, returns an annual net rental of $72,605 plus GST. Premier Hairdressing has a six-year lease from November 2008 with two further three-year rights of renewal. The single-level 348- square-metre concrete building occupies most of the 481sqm site and there are three off-street parks at the front. "The property has been immaculately maintained by the current owner who is selling to free up capital for other investments," Hodge said.
The property will be auctioned on August 2.
- © Fairfax NZ News
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