Kihini
• Woolworths supermarket in Auckland’s wealthiest residential suburb
• Returning $1,670,493pa + GST on 12-year lease term with fixed annual rental growth
• Landmark corner site with high-density zoning
• The ultimate hands-off trophy investment
Woolworths Herne Bay is a trophy supermarket located in the centre of Auckland’s wealthiest residential suburb. This 2,342sqm site is one of the largest high density, mixed-use land holdings in Herne Bay, offering huge profile from its corner position.
The property is fully leased to General Distributors Limited, a subsidiary of the ASX listed Woolworths Group, underpinned by a 12-year lease with rights of renewal to 2074. The property is currently returning $1.670million plus GST per annum and benefits from fixed annual rental growth. Offering a total of 1,640sqm of rentable area, the property also benefits from undercover parking for 52 cars.
The property is positioned on a prime corner site on Jervois Road, a main arterial which links the CBD to Herne Bay and other inner West City Fringe suburbs. This part of Herne Bay is one of Auckland’s most exclusive and sought-after suburban retail precincts.