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Property Ref: 50960

Freehold Investment Opportunity In Napier For Sale

Property Type: Commercial Real Estate

Sale Type: Freehold Investment

Region: Hawkes Bay

Physical Address: Marewa, Napier

Price: Land and Building Only $1,100,000plus GST (If any)

Broker: Kamal Sharma

Mobile: +64 22 0515 782

Email: kamal@tourismproperties.com

Here is an opportunity to secure ownership of the Single Level Commercial Asset of Suburban  Land and Building with good, strong tenants in Napier.

Key Features

  • 266 Square meters more or less
  • Strong tenant profile
  • Tenant trading as Marewa Four Square and Lotto
  • Net Returns close to 5%
  • High Visibility property
  • Council car park in front of the shops

 

LEASE DETAILS

Term -5 Years

Rights of Renewal- 5 Rights of Renewal of 2 years each

Final Expiry- 2036

Rent Reviews-Every 2 years

Please note that the Building is to be strengthened to 67% or greater NBS.

There is minor work required and the Vendor has indicated that this will be completed to meet the requirement before the settlement.

 

 

Tenant Profile

The tenant has been operating the Marewa Four square and Lotto for the last eleven years. There is also a  small passive income generated from the Sublease of  ATM to ANZ Bank.

 

Location

The property is situated within the commercial shopping area of Marewa, which fronts Kennedy Road and is bounded by Douglas Maclean Avenue and Nuffield Avenue.

This is approximately 1.5 Kilometres from Napier City Centre.

This is one of the more popular suburban shopping destinations.

 

Don’t miss out on a chance to acquire a freehold Investment property. This is a rare investment opportunity that offers great road frontage and excellent exposure.

Investors looking to secure this exceptional bottom drawer commercial investment, look no further. For more information register here or to arrange your viewing, please contact  Business Broker, Kamal Sharma, on 022 0515 782 or email kamal@tourismproperties.com.

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Title Report

Deed of Lease

Property Details

Property Type

Commercial Real Estate

Sale Type

Freehold Investment

Region

Hawkes Bay

Physical Address

Marewa, Napier

Price

Land and Building Only $1,100,000plus GST (If any)

Contact Agents

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Kamal Sharma

Tourism, Hospitality & Leisure Business Broker
Whole of the North Island
International: +64 22 0515 782
NZ Mobile: 022 0515 782

Email: kamal@tourismproperties.com

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