Iconic National Brand on Long Term Lease
270-278 Mahurangi East Road, Rodney
About the propertyLand Area: 1.03 ha
This property is an ideal passive investment, tenanted by The Warehouse, an iconic New
Zealand brand. The property sits on a large freehold land holding and is an established fixture in the greater Warkworth retail catchment.
The property features strong fundamental attributes, such as a central location on main-street Snells Beach, high profile exposure, ample parking, and a long term lease with strong tenant covenant.
Tenant: The Warehouse
Net Rental: $563,269.20 p.a. +GST
OPEX: $42,167.00 p.a. +GST
Term (remaining): 5 years
Right of Renewal: Three (3) Rights of five (5) years each
Dates of Renewals: 28 September 2022, 28 September 2027, 28 September 2032
Rent Review Date: 28 September 2019
Situated in a high growth area, the property is forecast to service more than 25,000 permanent residents by 2030. This is a high calibre investment opportunity not to be missed.
If you would like to receive further information please do not hesitate to get in touch