A meaty investment property which is leased to an established butcher on a long term lease.
Located in a high profile position, this convenience centre was completed around 2017 and has been occupied by a range of quality businesses since then including fast food, medical, dental, laundromat, fish and vegetable shop, dairy and childcare.
The surrounding area has seen huge population growth over the last decade which is set to continue. There is a solid demand for convenience centres offering a range of retail, especially meat. The complex offers easy access on site with two entrances, as well as plenty of carparking for customers.
Redhills Butcher Ltd, trading as Redhill Butcher
• Tenancy area: 297.32sqm (approximately)
• Initial lease term: Nine (9) years
• Commencement: 01/12/2024
• Rights of renewal: 4 x 3 years
• Rent review: Fixed 2.5% per annum and market rent review upon renewal
• New renewal due: 01/12/2033
• Current rent: $115,955pa
• Auckland council rates 2024-2025: $14,116.81
• Body Corporate 2024 - 2025: $21,673.53
• Has occupied the premises since 2018
Full documentation pertaining to this investment property can be accessed via propertyfiles.co.nz/1506502