Colliers are delighted to be able offer this impressive opportunity that should attract the attention of all serious investors – particularly those who are looking for a passive income, with the security of an international tenant.
1281 Eruera Street houses a large five-screen cinema complex (with a total capacity of 579) and has been servicing the movie-going public of Rotorua and surrounds, as well as its re-invigorated tourist/visitor market, for approximately 30 years. The property is ideally located on the central city fringe - giving easy access and ample street parking.
This premium package offers a solid annual estimated net return of $353,672 + GST, with attractive CPI and market rent reviews built into the new 10-year lease to Reading Rotorua Limited, an internationally owned US-based company which operates cinema complexes in 8 locations in New Zealand and 29 locations in Australia.
Features:
* New 10 year lease
* Internationally owned tenant
* Estimated annual net return $353,672 + GST
* Purpose built, well-established 5 cinema complex
