- Strong Anchor Tenants - Secure Income stream with growth
- Floor area of 2,572 m2 (approx.) on 21,521 m2 of land (more or less)
- Returning approximately $1,295,769 p.a plus GST and Outgoings
- Low maintenance modern buildings, passive investment
- Dual access site from Hamilton's busiest roads
- High Profile to Te Rapa Road and Wairere Drive
- Over 21,000 cars passing this site daily
- 4.2 years overall WALT
NAI Harcourts and CBRE are proud to present 860 Te Rapa Road, Te Rapa, Hamilton, for sale by way of Deadline Sale. The property presents as an impressive 2.1521ha landholding, occupying one of the most high profile locations within Hamilton, receiving exposure to approximately 22 million vehicles annually.
Offered to the market for genuine sale, this trophy investment offers highly desirable investment characteristics including strong tenant covenants, a diversified income stream, exceptional underlying land value and a high-profile position lying at the intersection of arterial roads, Te Rapa Road and Wairere Drive, serving as the gateway to State Highway 1 and 1C.
Improvements comprise modern motor vehicle showroom buildings, developed in stages between 2018 and 2021, comprising a mix of showroom, office and workshop areas, developed to a high standard. The asset is currently returning approximately $1,295,769 per annum net plus GST and OPEX, offering a WALT of 4.2 years. Its income profile provides for regular rental growth via predominantly inflation indexed and fixed percentage increases. In addition, the asset offers a number of short term upside opportunities to enhance the existing income profile.
Located at the intersection of Te Rapa Road and Wairere Drive at the entrance to The Base Shopping Centre, the asset lies within a high profile location and a recognised retail environment, with neighbouring properties occupied by national retailers Kmart and Woolworths.
Invest with confidence in a location where tenant demand consistently outstrips the supply in Hamilton. Here lies a rare opportunity to add a high quality, low risk investment to your commercial portfolio. See the opportunity for yourself and prepare to be impressed.
