9 Year Lease - Soul Bar as Tenant
5/85-93, Customs Street West, City Centre, Auckland City
- Proposed Usage
- Floor Area
- 628.00 m²
- Auction Date
- 11:00 - Oct 25, 2017
- Property ID
- Outstanding investment with Soul Bar as tenant on 9 years lease
- Strategic position for the next America's Cup
- Current lease extended plus further rights of renewal
- Strong cash flow with rent reviews to CPI plus fixed increases
- All outgoings including ground rent paid by tenant
- Net rental $437,500 pa + GST
The subject investment property is located in the Viaduct Harbour Basin, Auckland's premier entertainment precinct and the tenant, Soul Bar and Bistro Limited, is an iconic institution, well known as one of Auckland's most popular restaurants.
The long term future of this investment is underpinned by the extension of the current lease plus rights of renewal through to December 2038 (if both rights exercised).
This offering provides the astute investor the opportunity to invest in Auckland's waterfront Viaduct Harbour Basin strategically positioned for the next America's Cup.
Auction (unless sold prior)
11am Wednesday 25th October 2017