Anchored by Evolve Education, a nationwide childcare operator, on a brand-new 10-year lease accounting for over 88% of the property’s income, this is the ultimate bottom-drawer investment. The balance of the income is provided by a well-established and popular restaurant that has operated in Upper Hutt for many years.
Beyond the secure income stream, discerning investors will recognise the long-term potential of the site. The property is regular in shape, enjoys three street frontages, and sits directly opposite the Civic Centre, just 250 metres from Upper Hutt’s transport hub.
Both leases are net, with tenants paying property outgoings. The Evolve lease includes regular market rent reviews and annual automatic increases, ensuring a growing income profile over time.
Upper Hutt continues to benefit from strong population growth, driven by the availability of greenfield development sites and sustained demand from first-home buyers. Employment growth has also been evident, with new enterprises establishing in the city, particularly across the industrial, tech, and central-government sectors.
The Auckland-based vendor is seeking to recycle capital into northern development opportunities and has instructed us to get this asset sold.
Income-producing properties of this calibre, combining income security with future growth potential, are rarely brought to market. We recommend early action to position yourself to offer.
*Please note all areas and values are approximate only.
Contact the brokers for further information or to arrange an inspection.
Features:
- Strategic Upper Hutt town centre investment
- Brand-new 10-year lease to Evolve Education
- Strong and growing income profile
- Approximately 250 metres from Upper Hutt Transport Hub
More information: https://www.colliers.co.nz/p-NZL67043104
