THE IDEAL PORTFOLIO INVESTMENT - 15 YEAR LEASE
C301/50, Kitchener Street, Auckland City
- Proposed Usage
- Floor Area
- 702.00 m²
- Property ID
Secure cash flow, freehold, income generating property.
Fully leased to Barfoot & Thompson Limited, this top shelf investment returns $211,901 + GST net per annum with built in rental growth and a strong tenant covenant. This investment has a 15 year lease with a 6 year Right of Renewal, final expiry being 31 March 2034. Supported with two yearly 6% rent increases from 1 April 2015. Overall, this freehold floor is located in a prominent building that sits on the corner of Bacons Lane and Kitchener Street with views to Albert Park and back over High Street to the City.
Modern, low maintenance and secure cash flow.
Sit back and passively collect the rent from this successful, proven tenant.
Please contact Andrew Clark on 021 500 074 or Reese Barragar on 027 555 2122 for a detailed Information Memorandum.
• Freehold tenure
• Whole floor of 702.78m² more or less (comprising 585.62m² Office and 117.16m² Deck)
• Leased to Barfoot & Thompson Limited and is the Head Office for Barfoot & Thompson Commercial
• 15 year lease term with 6 year right of renewal
• Returning $211,901 + GST net per annum
• 6% rent increase every two years
• Tenant pays 100% of all outgoings
• $2,850,000 Capital Value (July 2014)
• Seismic rating 100% of NBS
• Secure tenant, passive investment
Closing: 3:00pm Tuesday 14th November 2017 (unless sold prior).
Deliver to L3, 50 Kitchener Street, Auckland City