Lake Rd Investments: They Have Much to Offer
On mortgages this week, a multifunctional property in Northcote is up for sale as a part of Bayleys latest Greater Auckland portfolio. This particular property, given its mixed used nature, can potentially offer investors a great opportunity to spread their potential risks across multiple tenancies.
This property is located at 46 Lake Rd, and is roughly comprises a 780 square mile, with four commercial occupants and a handy apartment at the rear of the 1014 square mile site. As shown below, many have said that this property is located in an excellent place where many traffic and street-goers would pass and go.
“The property at 46 Lake Rd has excellent visibility to high volumes of passing traffic with good off-street parking at the front of the building. Both Auckland CBD and central Takapuna are only a 10 to 15 minute drive away in non peak-hour traffic.”
Unka also says Lake Rd is an important secondary arterial route linking Northcote and other suburbs with Onewa Rd and beyond to the SH1 motorway and the Harbour Bridge. From an investors point of view, this could be seen as a huge advantage. The potential for profitable investment is this mixed used property should be more than enough to catch the attention of anyone who is looking into property investments.
Fears for Economy if Rates Keep Rising
Other news on mortgages includes many businesses and unions warning the public that economic activity may stall in the near future if rates keep rising. As of this week, the reserve bank has raised the benchmark interest rate to 3 percent, which happens to be the second increase in a six week span. Due to the faster growing economy, it has been said that further rises will follow after this one. Regardless, many have said that these fears are heavily overstated, and that New Zealand can cope with what are still considered to be historically low interest rates. Evidently, the New Zealand dollar also raised a third of a cent to US86.25 cent immediately after the announcement.
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