Colliers is proud to be presenting a premium commercial property to market, featuring a multi-tenanted investment with a WALT of 12 years, underpinned by a long-term lease to Woolworths, an ASX-listed tenant.
Situated in the heart of Hawera on a prominent 10,266 sqm site over two titles with two stand-alone buildings. The Woolworths Supermarket was constructed in 2019 with a net lettable area of approximately 3,475 sqm, 131 on-site carparks, boasting a 100% NBS seismic rating, and three street frontages.
Leased to General Distributors Ltd, a subsidiary of the ASX-listed Woolworths Group, on a 20-year lease from 8 May 2019 with final expiry in 2074. Complemented by an 877 sqm site developed in 1997, comprising a single-storeyed building accommodating The Ministry of Social Development, which occupies the majority of the building, The Western Institute of Technology and a well-established café. Great lease covenants and long terms, providing a combined net annual return of $1,115,351 plus GST.
Together, these properties represent a rare opportunity to acquire two quality assets in a tightly held market, offering long-term, split-risk income streams backed by essential service tenants
For sale by way Negotiation.
For more information or to arrange an inspection contact:
Benet Carroll
021 028 94537
benet.carroll@colliers.com
Please note: all floor areas are approximated only.
Features:
- Anchored by ASX-listed supermarket tenant
- Site Area: 10,266 sqm (approx.)
- Net Lettable Area: 4,352 sqm (approx.)
- Net annual rental: $1,115,351 + GST p.a.
- 100% leased to four quality tenants
- 131 carparks on site (approx.)
- Prime CBD location
- A grade seismic rating on both buildings
- 12 year WALT
More information: https://www.colliers.co.nz/p-NZL67034004
