Unit 4/34B Lake Street, Cambridge, Waipa

National tenants, Cambridge locale

•New leases to national tenants Westpac New Zealand and Vodafone New Zealand
•Returning approximately $170,000 plus GST net per annum
• 576sqm (approx) total floor area
•Favourable lease terms with built-in rental growth
•Located within the regional hot-spot of Cambridge
•100% seismic rating

Passive investors looking for an A-grade property in regional New Zealand can confidently look at this opportunity within the Lakewood precinct of Cambridge.

The near-new commercial unit at 100% NBS is divided into two tenancies that are to be occupied by Westpac New Zealand and Vodafone New Zealand. Returning an approximate total of $170,000 plus GST net per annum, both tenants are on favourable lease terms with built-in rental growth.

Occupying 486sqm (approx.) for their new regional business hub, the Westpac space will include a full suite of modern banking facilities including a 24-hour cash service lobby, interactive digital drop-in area for customers wanting to use a device to do their banking, a concierge space, as well as staff offices, boardroom and amenities. Vodafone New Zealand will occupy the remaining 90sqm (approx.) with a bright, interactive, new-look retail store - the latest in its New Zealand network of retail outlets.

Located just a few minutes, walk of the Cambridge town centre, the mixed-use Lakewood precinct is made up of retail, hospitality, office space, a hotel, extensive parking capacity and a sold-out residential component. Cambridge itself is expected to be home to 28,000 people by 2050 - 10,000 more than its current population.