Rare tenanted restaurant investment under GV in CB


Auckland Central

By Negotiation

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Rare tenanted restaurant investment under GV in CB


Approx. 320sqm freehold unit property is located on the ground floor of Hotel Grand Chancellor in Auckland CBD close to Viaduct Harbour. It is only 8-minute walk from Ferry Terminals, Britomart train station and the landmark Sky Tower with bungee jumping.

This prime investment is leased to a well-present licensed restaurant & bar with large outdoor seating area and commercial kitchen, netting of $70,000 pa. + GST (1st year) , it will increase to $75,000 pa. + GST for second year, new 6 year lease commencing from July 2018, 1 ROR of 6 years, finally expiring in 30th June 2030.

Features:

• Excellent street profile at corner site of one of the busiest arterial intersections

• Two entrances provide entry via either the lobby or directly from the street.

• Immaculately refurbished, upgraded and newly renovated licensed restaurant

• Long lease till 2030 with guaranteed rent increase

• Net rental currently $70,000 pa. + GST, from 1st July, 2019 to 30th June, 2021 $75,000 pa. + GST, and three yearly market rent review thereafter

• Farmer Carparks / Wilson Carparks building is 50 meters up on the road at No. 23 Hobson Street.