Warehouse Stationery - Long Term Lease

Unit, H, 111 Lincoln Road, Henderson, Waitakere City

Auction

Proposed Usage
Office
Floor Area
1139.00 m²
Description:
Property ID
1c1m1fk



Superbly located within a thriving retail development and surrounded by national brands, Colliers International are proud to offer this outstanding investment opportunity to the market.

Warehouse Stationery has been operational since 1991 and now have 67 stores nationwide offering over 20,000 products across multiple categories. They have been located at Unit H, 111 Lincoln Rd since September 1998, and in April 2017 they signed a new lease term for 7 years, plus two further rights of renewal of 3 years each resulting in a final lease expiry of March 2030.  Returning $173,733 pa net + GST & OPEX, the property offers both fixed & CPI rent reviews throughout the term, guaranteeing rental growth for the new landlord.

The building offers a net lettable area of 1,139m² in the form of a generic, regular shaped building. The current rental rate works out to $152 per sqm including car parks, which is considered to be below market levels, also benefiting the successful purchaser.  

The Lincoln Centre is fully leased and boasts national brands such as ACC, The Warehouse, Spotlight, Harvey Norman and Noel Leeming. Generous onsite car parking provides easy access and inwards goods are delivered via two roller doors at the rear of the property. The roller doors are strategically positioned to provide future flexibility, given the possibility that the tenancy could be split in two, subject to all necessary regulatory approvals.

Do not hesitate on this exceptional investment - call the sole agents now for further information or to arrange an inspection time.

 

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Henderson Area