Modern Stylish Commercial Investment


150 Seventeenth Avenue, Tauranga

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Modern Stylish Commercial Investment | 150 Seventeenth Avenue, Tauranga | 2841010 |      X Close
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Description

Modern Stylish Commercial Investment


- Modern building with attractive aesthetic

- National tenant with new eight year lease in place

- Guaranteed rental growth

- Anchor of new business hub, with new tenancies and construction about to commence

- Central Tauranga adjacent to Tauranga Hospital

This is the first time this property has come to market and the prospect is exciting. Located at the Seventeenth Avenue Business Park, this quality build was completed by CBC Construction in 2010. The building has a fresh look and feel, is highly functional, adaptable and comes with ample parking.

The Business Park is on a growth curve with new buildings about to be constructed for a tertiary education provider and a philanthropic society. The Park is close to the Hospital and is near the access to State Highway 2, for easy access to Tauranga's suburbs, Hamilton, Auckland and beyond.

Property details

Land Area: 1,559m2 more or less

Building area: 600m2 more or less

The tenant is a nationwide early childhood education provider. The premises acts as a support office for over 60 childhood teachers and support staff located throughout New Zealand. There is a new lease in place, with an eight year term. There are two rights of renewal of three years each. Two yearly CPI rent reveiws from 2016, guarantee rental growth.

Tenancy details

Term of Lease : Eight years

Commencement date : 1st October 2014

Rights of renewal: Two(2) of three (3) years each

Final expiry: 30th September 2028 if all rights of renewals exercised

Net rental: $137,080 + GST

Seldom does a property of this calibre with a tenant of this nature come to the market. Seize the opportunity to purchase an investment that will offer pride of ownership and strong returns in the future.

Mathew Gibbard

Tauranga

Licensed under the REA Act 2008

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Lloyd Davidson

Tauranga

Licensed under the REA Act 2008

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Mathew Gibbard

Tauranga

Licensed under the REA Act 2008

View profile

Lloyd Davidson

Tauranga

Licensed under the REA Act 2008

View profile