SHARP RETAIL INVESTMENT - 8 YEAR LEASE - NEW ...

6/254, Cornerstone Drive, Albany, North Shore City

By Negotiation

Proposed Usage
Retail
Floor Area
51.00 m²
Description:
Property ID
1btpnld

SHARP RETAIL INVESTMENT - 8 YEAR LEASE - NEW BUILDING

This is an excellent retail investment property for the minimal risk astute investor. The shop is located within the retail precinct as part of the brand new Albany Ramada Hotel, which is a state-of-the-art landmark building with high visibility from the Northern Motorway. The Hotel was officially opened in April 2017 and has 66 rooms as well as 18 apartments and 11 convenience retail shops. Known for its high occupancy rates across New Zealand, the hotel is expected to drive a huge amount of customers to the complex and the tenant, being a dessert cafe / restaurant is expected to benefit from its strategic location among hotel visitors, residents and shoppers who visit the complex.
With a growing demand for hotel services on the North Shore and the rapidly evolving apartment landscape surrounding the Ramada hotel, the tenant has chosen a well located property for their business.

To sum it up: We believe this investment ticks all the boxes:

• Brand new building
• Comes with covered outdoor seating area - perfect for a cafe!
• Fully tenanted investment for sale by negotiation
• Personal guarantors provided
• 8 Year initial lease term
• A further 2 x 4 years rights of renewals
• Annual rent increases
• Tenant pays all outgoings additionally
• Leased at market rent
• Other businesses include The Coffee Club, Just Laptops a clothing boutique and a gym

The tenant is just in the process of planning and undertaking their fit-out for a dessert cafe and restaurant and this will include a full commercial kitchen and eatery fit-out.

This is a fantastic investment for the astute hands-off investor looking to receive an income straight away and enjoy a quality long term commercial investment.

For more information please get in touch with us today and to arrange a viewing of this awesome property.

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Albany Area