This property is located on one of the best commercial streets in Mount Maunganui, with a huge demand from trade supply tenants, attracted to its high profile and easy accessibility. The commercial zoning allows great future potential for a more intensive retail/office uses, which will further enhance the rental income.
Tenant "Corys" has branches all over the country and has just renewed for 6 years for real security of income. They have also agreed to CPI rent reviews every year, to give the new owner regular rental growth.
The substantial building, with an 85% NBS rating (ISA), has recently been refurbished, including a new roof and the tenant is about to complete internal improvements to further enhance the showroom’s appearance.
If you’re looking for a simple and secure investment with assured capital growth, this is the one for you.
Features:
* Net Rental: $152,500 p.a + GST
* Land area: 1319m²
* Floor area: 651.1m²
* National tenant "Corys"
* Annual CPI rent growth
* 85% of NBS (ISA)
* High profile location
* Commercial zoned
* Large parking/yards
