A rare opportunity to secure a freehold, standalone investment property on Te Rapa Straight. Strategically positioned, the property enjoys excellent exposure to high volumes of passing traffic along Te Rapa Road. The subject property is leased to a well established tenant with multiple stores nationwide. A long term lease commenced in Dec 2024 with a 10 year initial term, plus further rights of renewal. The current rental income is $70,000 pa + outgoings + GST, increasing to $75,000 per annum from Dec 2026.
The property has a total floor area of approx. 638 square metres over 2 floors, sitting on a land area of 1,012 square metres (more or less). This is a compelling opportunity to secure a freehold, standalone property with a long term lease in the prime location of Te Rapa.
For further information or to arrange a viewing, please contact the vendor’s agent.
Features:
- Tenanted investment in Te Rapa Straight with an established tenant
- Initial 10 year lease from Dec 2024, plus rights of renewal
- Freehold, standalone property with high exposure
- Current rental income $70,000 pa + GST, scheduled increase to $75,000 p.a. from Dec 2026
More information: https://www.colliers.co.nz/p-NZL67041064
