Large Format Retail Investment: Under Armour


Unit 12/42 Gravatt Road, Papamoa

Asking Price NZD $1,250,000 + GST (if any)

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Large Format Retail Investment: Under Armour | Unit 12/42 Gravatt Road, Papamoa | 2502353 |      X Close
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Large Format Retail Investment: Under Armour


Prime opportunity to purchase Unit 12, 42 Gravatt Road, in the coveted Fashion Island retail complex in Papamoa.This unit is tenanted by US activewear specialists Under Armour who have a cult-like following from athletes and fitness participants in the activewear market. Only 25 years young and with their new slogan "the only way is through" that resonates strongly with athletes and those striving to achieve goals. Under Armour commenced a new 5 year lease on 24 October 2020 with a current final expiry of 23 October 2025. Affordable income earner investment and maybe an opportunity to extend this tenancy on expiry date!

This unit is one of twelve remaining for sale at Fashion Island - a purpose-built unit-titled property in the popular Bay of Plenty beachside neighbourhood of Papamoa. It is home to 19 businesses including strong international apparel brands, local beauty and fashion-related service providers, and popular food outlets. Built in rental increases every year provide fixed growth to these superb assets. The centre was extensively upgraded and refurbished in 2017, which also included the shopfront facade to create a distinctly recognisable destination shopping centre. Shoppers can easily find a park with the convenience of 122 car parks shared on site.

Investors can buy with the confidence of an A-grade seismic rating and low-risk construction materials. Each stratum in freehold unit is being sold separately so you can select the tenancies you prefer and build a portfolio. Seldom do commercial opportunities of this calibre present themselves to the market with such strong tenant covenants in a highly desirable coastal location. Call the Sole agents for a full Fashion Island information pack to secure a passive investment performer for a long term hold.

Ryan Bradley

Tauranga

Licensed under the REA Act 2008

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Brendon Bradley

Tauranga

Licensed under the REA Act 2008

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Lynn Bradley

Tauranga

Licensed under the REA Act 2008

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Unit 12/42 Gravatt Road, Papamoa

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Ryan Bradley

Tauranga

Licensed under the REA Act 2008

View profile

Brendon Bradley

Tauranga

Licensed under the REA Act 2008

View profile

Lynn Bradley

Tauranga

Licensed under the REA Act 2008

View profile