Papamoa
Unit 15/42 Gravatt Road, Papamoa, Tauranga & Surrounds
Asking Price NZ$2,000,000 + GST
(if any)
Solid returns on Investment
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 commenced a 5 year lease on 3 December 2020 with a current final expiry of 2 December 2025. 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.
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. Call Team Bradley today for a full Fashion Island information pack to secure your passive investment.
Ryan Bradley
Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Brendon Bradley
Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Lynn Bradley
Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Features
Rent review
3.5% annually (T19-20) & 4% annually (BCMO)
Occupancy
Sheridan Outlet (T19-20) & Body Corporate Management Office
Floor area details
383.87sqm (approximately)
Annual Net Rental
$127,306 + GST & OPEX
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