Large Format Retail Investment: Sheridan


Unit 15/42 Gravatt Road, Papamoa

Asking Price NZD $2,450,000 + GST (if any)

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Large Format Retail Investment: Sheridan | Unit 15/42 Gravatt Road, Papamoa | 2502356 |      X Close
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Large Format Retail Investment: Sheridan


Prime opportunity to purchase Unit 15, 42 Gravatt Road, in the coveted Fashion Island retail complex in Papamoa. This unit comprises two tenancies that includes premium homeware brand Sheridan and the Body Corporate Management Office. Sheridan has been creating quality home and lifestyle products for 50 years and is one of the most recognised brands in New Zealand and Australia manufacturing top of bed linen, duvets, valances, towels, cushions and sheets with great designs. Sheridan commenced a new 5 year lease on 3 December 2020 with a current final expiry of 2 December 2025. it is time to get into bed with this clean investment and enjoy the impressive income stream this returns!

The Body Corporate Management office commenced a new 7 year lease on the 1 October 2021 with two further 7 year rights of renewal for a final expiry date of 30 September 2042. Suggest long term tenure here.

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.

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 15/42 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