Property listing ID: 64214
This property is a 3,793m² freehold site with three broad street frontages, including SH2, in the heart of the bustling Paeroa town centre. The property is leased to General Distributors, a wholly owned subsidiary of Woolworths, Australia's largest supermarket chain. The lease runs until July 2020 with five 6 year rights of renewal to 2050, current rental is $310,829 p.a with a rental increase due on review July 2017. The 1955m² building is well configured for any retail use and includes loading facilities at the rear. Constructed of solid concrete and iron the structure and services are in good condition and have been well maintained. The balance of the site is sealed and provides for 65 car parks with easy access. The central location and burgeoning costs of new buildings underpin the long term future of this property. This is a fantastic passive investment opportunity to an A-Grade tenant worthy of your consideration. Price guide $3.75m to $4.25m - Contact now for details.
Listed by Barfoot & Thompson , Cam Paterson (City Commercial)