Apollo Square full service apartment

40, Rosedale Road, Albany, North Shore City

Price On Application

Proposed Usage
Hotel & Leisure
Floor Area
2365.00 m²
Description:
Property ID
1c05g5q

- 30 year (15+5+5+5) term lease agreement
- 65 motel units plus 38 allocated car parks
- Brand new build property with 4.5 star hotel operation
- Fully leased returning $1,100,000pa + GST + outgoings
- Total floor area approximately 2980 sqm
- Estimated completion end of 2018

Auckland's hotel sector will remain highly constrained over the next decade, resulting in annual occupancy rates that approach 90% in the long term. Apollo Square full service apartments are situated on Rosedale Road which is the main gate way to Apollo Business Park. It also serves as one of the main access points to the North Shore and Albany business areas and is approximately 2km from the Albany Mega Centre. Coupled with this is the close proximity to North Harbour Stadium, Massey University, North Shore District Court, multiple banks headquarters, 3M New Zealand, Apollo Medical Centre and Bupa Hugh Green Retirement Village and Care Home.

The tenant Leroy Albany is an experienced hotel, motel operator, having operations in Sydney, Auckland and Taupo. Providing both bank and personal guarantees on this lease, demonstrating their confidence in this business. The operation of Leroy Albany will be focused on professionals and business people since its proximity to Albany centre and Business Park.

Zoning: Business - General Business Zone

Tenancy Details:

Fully leased to Leroy Albany, returning $1,100,000pa + GST. Full tenancy details are available on request.

Expressions of Interest
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