263 East Tamaki Road, Otara, Manukau

Passive investment on a large freehold land

- Fully leased to long-standing Gull service station with separate basement tenant
- High profile freehold site - land area 3,075sqm (more or less)
- Returning circa $247,173pa plus GST and outgoings
- 10 year lease until February 2026 with further rights of renewal
- Wide road frontage to East Tamaki Road of approximately 53 metres
- Seismic grade A

Gull East Tamaki gas station has been successfully trading for 17 years. In 2016 the tenant Gull New Zealand commenced a new 10 year lease with further rights of renewal up to 2046. Gull New Zealand now under the ownership of Australian public listed company Caltex Australia and prepared to expand their business nationwide.

Located on the southern side of the very busy main arterial route of East Tamaki Road. The property comprises of a suburban petrol or service station with associated Night 'n Day convenience grocery store and separate tenant at basement storage. Total building area is approximately 1,395sqm including canopy and covered walkway.

Neighbouring tenants include a TAB, tavern, laundromat, takeaway shop and a wholesale meat store. The property offers an excellent opportunity for a variety of investors including passive investors, add-value investors, long-term developers and land bankers.

Call sole agents for viewing now!