150 Seventeenth Avenue, Avenues, Tauranga & Surrounds

Modern Stylish Commercial Investment

- Modern building with attractive aesthetic \n- National tenant with new eight year lease in place\n- Guaranteed rental growth\n- Anchor of new business hub, with new tenancies and construction about to commence\n- Central Tauranga adjacent to Tauranga Hospital\n\nThis is the first time this property has come to market and the prospect is exciting. Located at the Seventeenth Avenue Business Park, this quality build was completed by CBC Construction in 2010. The building has a fresh look and feel, is highly functional, adaptable and comes with ample parking.\n\nThe Business Park is on a growth curve with new buildings about to be constructed for a tertiary education provider and a philanthropic society. The Park is close to the Hospital and is near the access to State Highway 2, for easy access to Tauranga's suburbs, Hamilton, Auckland and beyond.\n\nProperty details\nLand Area: 1,559m2 more or less\nBuilding area: 600m2 more or less\n\nThe tenant is a nationwide early childhood education provider. The premises acts as a support office for over 60 childhood teachers and support staff located throughout New Zealand. There is a new lease in place, with an eight year term. There are two rights of renewal of three years each. Two yearly CPI rent reveiws from 2016, guarantee rental growth.\n\nTenancy details \nTerm of Lease : Eight years\nCommencement date : 1st October 2014 \nRights of renewal: Two(2) of three (3) years each\nFinal expiry: 30th September 2028 if all rights of renewals exercised\nNet rental: $137,080 + GST\n\nSeldom does a property of this calibre with a tenant of this nature come to the market. Seize the opportunity to purchase an investment that will offer pride of ownership and strong returns in the future.