Listing #:2029755213

18 Year Lease to National Tenant

Location: Units 12 & 16, 170 Wairau Road, Wairau Valley, Wairau Valley, North Shore City, Auckland
Property use: Retail
Floor area: 1,444-1444m2
Land area: 0m2
Price: To be sold by deadline sale (by 16 May)
Invest in one of New Zealand's Major fitness chains and a growing industry. Located in over 30 locations nationwide. The property is well situated in the Wairau Junction retail centre which underwent major redevelopment in 2013/2014. With tenancies such as Westpac, Coffee Club, Pita Pit, and Pizza Hut. Wairau Junction is one of the most prominent centres on the North Shore, and benefits from up to 155 parks.

Tenancy Details:

Wairau Park City Fitness Limited

Term of lease: 18 years

Commencement date: 1st November 2012

Rights of Renewal: Two (2)  of seven (7) years

Net Rental: $276,238pa + GST and OPEX

 

Wairau Park City Fitness Limited

Term of lease: 14 years and 7 months

Commencement date: 1st April 2016

Rights of Renewal: Two (2)  of seven (7) years

Net Rental: $87,965pa + GST and OPEX

 
Features:
* Tenanted investment on long term leases with guaranteed rental growth
* Occupying two units, the combined total annual net return is $364,203pa + GST
* Current leases are guaranteed by City Fitness Group Limited who have invested heavily in fit out at this site

Agency reference #: 212938
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Deadline sale
Units 12 & 16, 170 Wairau Road, Wairau Valley, Wairau Valley, North Shore City, Auckland
Deadline sale
Listed: Thu 18 Apr, 9:52 am
Matt Prentice
Colliers International North Shore, (Licensed: REAA 2008)
  • Contact details
  •  (09) 4884785
  •  (021) 464904

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Agent's details

Matt Prentice
  •  (09) 4884785
  •  (021) 464904
Euan Stratton
  •  (09) 4884779
  •  (027) 5807439
Colliers International North Shore, (Licensed: REAA 2008)
(09) 4884777
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Expires: Tue 25 Jun, 9:45 am
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