- For Sale
For SaleDeadline Private Treaty 10th Sep 2021 4pm (Unless sold prior)
Positioned on a prime, highly visible corner in the gateway to Mount Maunganui is this new office investment opportunity. The location is second to none and just outside the Tauranga Port’s entrance, a short distance to the Mount’s CBD and thriving industrial area.
33 Totara is a new three level office building at The Mount end of Totara Street which is leased on new 8-to-10-year initial terms. Each floor offers the tenants a unique elevated visual outlook with fantastic natural light and views of the Ports, Mauao and over the surrounding area. The building was designed by local firm Archistudio out of low maintenance, modern materials to showcase Form Construction's presence as a market leader.
This building received Code Compliance Certificate in February 2021 and since then tenants have been undertaking their fitouts. The ground and first floor are now completed and occupied. For the second floor, the tenant fitout is complete and the balance with the leaseback is ready to accept a tenant.
The proud new owner will have the exceptional covenants of the tenants being on new ten-year leases with growth factored in via a mix of CPI and market rent reviews. The balance the second floor is offered on an eight-year lease back with similar growth. The structure allowing for security of tenure or the opportunity for an owner occupier.
An opportunity not to be missed, the calibre of this new building and its tenants is rarely seen in the Bay of Plenty market. Add the location and you’ve got the right ingredients for the ultimate addition to any discerning investors portfolio.
Contact the sole agents, Mathew, or Duncan, today to discuss.
Ref #: 20759132