• Fully leased, freehold standalone investment
• Established international brand
• Provides an attractive cashflow of $662,192p.a. plus GST
• Premier position near The Boundary Shopping Precinct and WestCity Waitakere

28 Catherine Street, Henderson, is a fully leased, freehold, stand-alone investment with established international brands Timezone and Zone Bowling providing a net income of $662,192 + GST per annum.

This investment is underpinned by a lease to TEEG NZ Limited. TEEG opened its first Timezone in 1978 in Perth and today has 350 venues across Australia, New Zealand, and Asia. The lease, guaranteed by the Australia-based parent, has over six years left to run with fixed annual rental growth and a bank bond rental guarantee
in place.
Looking to the future, the property offers a sizeable 4,497sqm (more or less) landholding with wide frontages to Catherine and Pioneer Streets. Its development-intensive zoning allows for a wide range of development opportunities with a development height of up to 72.5m.

A well-leased commercial property investment that provides future add value potential.

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