337 Devon Street East, New Plymouth, New Plymouth

Split risk asset on prominent corner

Positioned on a high-profile 913sqm (more or less) corner site at Devon Street East and Hobson Street, this standalone office building is anchored by long-standing tenant Abacus Insurance. Alongside a multinational agriculture company, national education provider Te Kura, and a ground lease from a billboard, the property generates a combined net return of $224,008 per annum.

The property comprises a total floor area of 740sqm, with value-add potential offered through a small first-floor office suite that is currently vacant. It is supported by 20 car parks and benefits from dual access from both street frontages, including rear access off Lucas Lane. The building commands exceptional visibility and presence across all four facades, providing outstanding branding exposure for tenants.

With existing tenancies refurbished in recent years, the building boasts high-quality, modern amenities and a Category A seismic rating. Multiple income streams mitigate occupancy risk, while low vacancy levels in the surrounding area further reinforce the strength of this high-profile location.

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