Property listing ID: 4108380
A premier investment opportunity featuring a national brand tenant, fixed rental growth, and significant development potential in the heart of Papakura’s Metropolitan Centre. This high-profile freehold asset is anchored by Postie Plus Group Limited, a household name that has been a staple of the Papakura retail landscape for over two decades. With a new six-year lease that commenced in December 2024, the property offers immediate income stability underpinned by a proven national performer. The investment is further enhanced by fixed annual rent increases of 3.5%, ensuring consistent rental growth. Recent capital expenditure, including an upgraded air-conditioning system and a modern tenant fit-out, ensures the building meets contemporary standards and minimises near-term maintenance requirements. Beyond the immediate yield, the property holds exceptional long-term value. Situated on a site unencumbered by flood plain overlays and zoned Business – Metropolitan Centre, the 40.5m height variation provides a clear pathway for high-density mixed-use development in one of Auckland’s key growth nodes. KEY FEATURES: • National brand tenant - Postie Plus Group Limited (20+ year local history) • New six year lease commenced December 2024 • Net rental $96,730 per annum + GST & OPEX • Fixed growth 3.5% annual rent increases • Development upside - 40.5m height variation for high-density intensification • Superior positioning with prime Great South Road exposure • Three undercover car parks • Risk profile - site is unencumbered by flood plain overlays • Modernised asset - upgraded air-conditioning and recent tenant fit-out
Listed by Barfoot & Thompson , Dion Jenkins (South Auckland Commercial)