12 and 16/170 Wairau Road, Wairau Valley, North Shore

18 year lease to national tenant

• Tenanted investment on long term leases with guaranteed rental growth
• Occupying two units, the combined total annual net return is $364,203pa + GST
• Current lease terms run through until 2030 with rights of renewal
• Both leases are guaranteed by City Fitness Group Limited who have invested heavily in fit out at this site
Invest in one of New Zealand's major fitness chains and a growing industry. Located in over 30 locations nationwide. The property is well situated in the Wairau Junction retail centre which underwent major redevelopment in 2013/2014. With tenancies such as Westpac, Coffee Club, Pita Pit, and Pizza Hut, Wairau Junction is one of the most prominent centres on the North Shore, and benefits from up to 155 parks.

Unit 12 Tenancy details:
1,126sqm (approximately)
Term of Lease: 18 years
Commencement Date: 1st November 2012
Rights of Renewal: Two (2) of seven (7) years
Net Rental: $276,238pa + GST and OPEX

Unit 16 Tenancy details:
318sqm (approximately)
Term of Lease: 14 years and 7 months
Commencement Date: 1st April 2016
Rights of Renewal: Two (2) of seven (7) years
Net Rental: $87,965pa + GST and OPEX