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Listing Description
Listed: Thu, 5 Feb
New 10-year Ground lease to Gull
15 Birch Avenue, Judea, Tauranga, Bay Of Plenty
To be sold by auction on 18 Mar, 1:00 pm
Details
| Attribute | Value |
|---|---|
| Property use | Development site |
| Property ID# | JPM077 |
| Agency reference | 2505370 |
Description
- 1,752sqm (more or less) land area
- National tenant Gull New Zealand
- Freehold (Fee simple) Tenure
- Annual net rental income of $237,500 + GST & OPEX
15 Birch Avenue, Judea presents a rare opportunity to secure a high-profile, freehold corner site underpinned by a long-term ground lease to Gull New Zealand Limited, one of the country's most recognised and proven fuel retail brands.
Situated on 1,752sqm (more or less) of Industrial-zoned land with extensive dual street frontage and immediate access to major arterial Waihi Road, the property is strategically positioned for a high-volume unmanned fuel station to service strong commuter flows between Tauranga's western suburbs and the City Centre.
Gull are currently constructing on site a purpose-built, unmanned service station comprising eight bowsers and modern underground storage infrastructure that is due to start trading early March 2026. All improvements will be fully owned, installed and maintained by Gull, offering a passive, low-maintenance investment structure supported by a robust national tenant covenant.
The 10-year initial ground lease, with three seven-year renewals, incorporates two-yearly CPI reviews within a set 2-4% cap and collar, and a commencement rent of $237,500 + GST per annum, delivering both security and fixed rental growth.
With strong locational fundamentals, excellent access, and a future-ready fuel model, 15 Birch Avenue stands out as a lucrative long-term investment asset and a compelling addition to any commercial portfolio!
Contact the Bayleys Sole agents today for more information.
Property Files
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