Prime Service Station - 14 YEAR LEASE

782R State Highway 29, Tauriko

Investment For Sale

For Sale by Deadline Private Treaty closing at 4pm Thursday, 21 Nov 2019 (Unless sold prior)    Tenanted Investment
Land Area: 3,098.00 m2.    Floor Area: 248.00 m2.    

Description

We offer this unique investment opportunity to purchase a high profile State Highway service station with a very long lease in one of the Tauranga's highest growth areas. The large 3098sqm site offers great exposure and is strategically located in one of Tauranga's premium suburbs currently experiencing huge growth in both residential and commerce with the burgeoning Tauriko Business Estate and Tauranga Crossing shopping centre on the doorstep of the property. The site is also located in the vicinity of the Tauriko West proposed residential plan change with several thousand new homes planned to be constructed.

This property is the first and last service station you can visit as you travel too and from Tauranga via the SH29 road which goes over the Kaimai's to the Waikato and towards Auckland.

The property offers a long term lease to the operators of the Caltex Service Station, which also operates a truck stop at the rear of the site and subleases a portion of the building to Subway.  The lease has a 20 year term from 1 November 2013 and is returning $152,532 (from 1 November 2019) also p.a plus GST with built growth 4% every 2 years.

 

Features

  • Returning: $152,532 pa net + GST (from 1 November 2019)
  • Fixed 2 yearly 4% rental increases
  • 20 year triple-net lease term (14 years remaining)
  • High profile state highway location
  • National Brand
  • Rear diesel truck stop
  • Large 3,098m² freehold site
  • Exceptional State Highway Exposure
  • For sale by Deadline Private Treaty Closing 4.00pm Thursday 21 November 2019 (unless sold prior)

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