New Zealand
Commercial Real Estate Consultants
For Sale
Tauranga South
Tauranga
HIGH RETURNS + LONG LEASE 8.35% RETURN
Property ID: 12132

HIGH RETURNS + LONG LEASE 8.35% RETURN

For Sale

Fraser Cove Shopping Centre
225-245 Fraser Street

    Property Features For 225-245 Fraser Street, Tauranga:

    • Leased to Contours Gym on a new 7 year term from January 2010 paying $146,182 + GST
    • Substantial internal fitout which is owned by the tenant
    • Vibrant business with large customer base
    • Huge floor area of 725m2 on freehold unit title
    • Assured future rental growth with CPI rent reviews in January 2011 and 2 yearly thereafter
    • This investment is fully managed for ease of ownership

    Description:

    This is a unique high yielding investment adjoining the entrance to a new Countdown supermarket with great exposure onto the carpark and busy Fraser Street.

    Contours is a thriving business with one thousand registered members that caters to the huge population in the surrounding suburbs of the Avenues, Greerton, Maungatapu and Welcome Bay. Customers can park in the large carpark in front of the premises and access the premises via stairs or by lift which are dedicated to this tenancy. When Contours started their lease in 2004 they paid a substantial sum for the fitout in the building including carpets, partitions, toilets, showers and air conditioning and are responsible for the ongoing repair / maintenance of this fitout during the lease.

    Investors should consider this high yielding investment as it has the fundamentals of a secure investment – long lease, a successful tenant with a substantial fitout and situated in a quality location.

    LAND & BUILDING FOR SALE ONLY

      Tenancy Information
      TenantTermNet Annual Income
      Contours Gym 7 years from January 2010 $146,182

      For further details please contact:

      Simon Clark

      Simon Clark
      Tauranga Office

      Mobile: +64 (21) 959-710
      DDI: +64 (7) 928-8780
      Email: simon.clark@colliers.com

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      Duncan Woodhouse

      Duncan Woodhouse
      Tauranga Office

      Mobile: +64 (21) 888-962
      DDI: +64 (7) 928-8783
      Email: duncan.woodhouse@colliers.com

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      225-245 Fraser Street

      Asking Price:

      Price: $1,750,000

      Disclaimer: The contents of this document do not form any part of a contract. Whilst all care has been taken in preparation,
      no responsibility is accepted for the accuracy of the whole or any part and interested persons are advised to make their own enquiries and satisfy themselves in all respects.

      CPS Partnership Limited, Licensed under the REAA 2008