This premium investment opportunity in Hastings is tenanted to Bayswater Vehicles, Hawke’s Bay’s premier dealership for leading automotive brands. Representing more car franchises than any other dealership in New Zealand, Bayswater’s portfolio includes Audi, Volkswagen, Skoda, Nissan, BYD, Mini, Hyundai, Isuzu, Subaru, Suzuki, Jaguar, Land Rover, Volvo, and BMW. Secured by a brand-new 7-year lease from settlement, the property returns $334,100 net per annum + GST, with fixed 2.5% annual rental increases and market reviews every five years, ensuring strong income growth.
Positioned in a high-profile location at the Stortford Lodge roundabout, the property boasts dual frontage to Heretaunga Street West and Stortford Street, maximizing exposure. Sitting on a substantial 4,163m² freehold site, the modern premises includes a high-quality 477.5m² showroom with a mezzanine office and an attached 657.2m² workshop, constructed circa 2015/16.
This is a rare opportunity to secure a blue-chip asset in a prime location with a nationally recognised tenant.
Contact Danny Blair today for further information.
Features:
- Modern high end showroom
- New 7-year initial lease from settlement with 2.5% annual increases
- $334,100 net rental pa + GST
- Prime position at the top end of Heretaunga Street West
- Extensive asphalt surfaced yard area
More information: https://www.colliers.co.nz/p-NZL67033711
