Secure Tenanted Investment on State Highway 16
An opportunity is offered to acquire the Gull service station site and improvements, within the established Kaukapakapa Village Centre, located just north of urban Auckland.
This modern, purpose-built service station occupies a prominent position on State Highway 16, benefiting from strong traffic exposure and excellent accessibility. The property is fully leased to Kaukapakapa Service Station Limited trading as Gull, a nationally recognised fuel retailer, returning $163,105.92 per annum plus GST and outgoings under a 17-year lease with two yearly rent reviews at the greater of market or CPI, providing secure income and built-in rental growth.
The service station forms part of a growing village centre environment and is well supported by nearby complementary uses, including the newly renovated Shed 16, which has enhanced the amenity and activation of the local precinct.
Zoned Business - Local Centre under the Auckland Unitary Plan, the site supports local convenience retail and commercial activity and forms part of a well-considered development constructed to a high standard. Ongoing residential growth within Kaukapakapa continues to underpin demand for essential services and convenience-based retail.
This offering presents a compelling opportunity to secure a passive, income-generating investment in a tightly held North Auckland location, underpinned by a national tenant covenant and strategic arterial road frontage.
This modern, purpose-built service station occupies a prominent position on State Highway 16, benefiting from strong traffic exposure and excellent accessibility. The property is fully leased to Kaukapakapa Service Station Limited trading as Gull, a nationally recognised fuel retailer, returning $163,105.92 per annum plus GST and outgoings under a 17-year lease with two yearly rent reviews at the greater of market or CPI, providing secure income and built-in rental growth.
The service station forms part of a growing village centre environment and is well supported by nearby complementary uses, including the newly renovated Shed 16, which has enhanced the amenity and activation of the local precinct.
Zoned Business - Local Centre under the Auckland Unitary Plan, the site supports local convenience retail and commercial activity and forms part of a well-considered development constructed to a high standard. Ongoing residential growth within Kaukapakapa continues to underpin demand for essential services and convenience-based retail.
This offering presents a compelling opportunity to secure a passive, income-generating investment in a tightly held North Auckland location, underpinned by a national tenant covenant and strategic arterial road frontage.
Key features
Location
Prominently positioned on State Highway 16 within the established Kaukapakapa Village Centre, just north of Auckland, servicing a growing North Auckland catchment.
Lease term
Long-term lease in place with a 17-year initial term from April 2019 and a further 17-year right of renewal, extending through to April 2053.
Passing income
Net income of $163,105.92 per annum plus GST and outgoings, delivering a passive and predictable income stream.
