99 Jellicoe Street is a well located standalone 1980's commercial building ideally situated on a prime 359m2 freehold corner site of the busy high-profile main road in the large rural township of Te Puke.
The property presents a fantastic opportunity for an investor or developer with secure holding income and future development options.
The long term tenant (MSD) has just spent $65million nationwide upgrading their branches including this one
Total area: 359m2.
Total net lettable area: 293.9m2 (ground floor 227.6m2, mezzanine 66.3m2)
Key features:
• Prime corner site location by Jellicoe Street and Jocelyn Street roundabout
• 1980's commercial building in the heart of Te Puke
• Long term Tenant (Ministry of Social Development) currently paying $84,225 per annum plus GST (including outgoings)
• Final expiry date of 31 October 2032 if all rights exercised.
The Western Bay of Plenty has one of New Zealand's fastest growing rural populations. Te Puke is experiencing great growth as a by-product of the growth in Tauranga, Mount Maunganui and strong agricultural results. Te Puke is the heart of New Zealand's prosperous kiwifruit industry. Other industries in this area include Tourism and Horticulture. Regional infrastructure development includes the Tauranga four lane eastern arterial route giving access to Papamoa, Mount Maunganui, Tauranga and Rotorua and the new Rangiuru Business Park and the Sands retail development at Papmoa which are all close by.
Extensive Information Memorandum available - contact the Sole Agent today!