Modern Retail Investment – New 6 Year Lease
Unit, 5, 67 Auckland Road, Warkworth, Rodney
- Proposed Usage
- Floor Area
- 411.60 m²
- Property ID
Enquire about this property
Colliers International are pleased to present Unit 5, 67 Auckland Road, Warkworth to the market. The complex has massive profile to State Highway 1 at the entrance of the fast growing Warkworth region, this offering is situated amongst many national brand tenants in a recently completed retail precinct, 'The Grange'.
Benefiting from its high profile positioning within the development, unit 5 comprises 305.6 sqm of internal space and 106sqm of covered courtyard. The Tenant, Pets North NZ, a pet store retailer providing premium pet food and supplies, has signed onto a 6 year lease, with right of renewal, which commenced April 2018. The Tenant has committed to a 6 month bank guarantee and personal guarantee, offering investors added security. Retuning $122,650 pa net + GST with 3 yearly market rent reviews (hard ratchet) & annual fixed CPI growth, this investment is one for the bottom draw.
The location of the ‘The Grange’ is perfectly positioned to benefit from the large scale residential developments surrounding the retail precinct. The complex has rear access backing onto these residential developments giving 'The Grange' foot traffic from the rear. Easily accessible off State Highway 1 from both directions with the access built to cater for Warkworth’s projected growth.
For further information or an inspection please contact the Sole Brokers at Colliers International.
Sean Honeycombe 027 252 8882 | Euan Stratton 027 580 7439