Morningside
47 Porowini Avenue, Morningside, Whangārei
+10
Split-risk anchored by Z Energy - $3.25M (6.6%)
High-profile, split-risk investment returning $213,903 net p.a. + GST with a 7.2-year WALE and regular rent reviews ensuring steady income growth.
Anchored by Z Energy Limited (lease to 2048 if all renewals exercised) and complemented by an established automotive tenant on a new lease through to 2035.
The 2,986sqm freehold Commercial-zoned site sits directly opposite Mitre10 Mega, benefiting from strong traffic flow, excellent visibility, and dual access via a secondary laneway.
KEY POINTS
• $213,903 net p.a. + GST
• 7.2-year WALE with built-in rent growth
• Z Energy + automotive tenant mix
• 2,986sqm freehold Commercial land
• Dual access and prime exposure
• Asking price $3.25M - 6.6% yield
Nigel Ingham
Mackys Real Estate Ltd, Bayleys,
Licensed under the REA Act 2008
Henry Napier
Mackys Real Estate Ltd, Bayleys,
Licensed under the REA Act 2008
Features
Lease
Returning $213,903 net p.a. + GST
Rent review
7.2-year WALE with built-in rent growth
Location
Prime frontage and dual access for long-term value
Anchor tenants
Blue-chip anchor tenant: Z Energy Limited
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Property files
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