Sizzling investment with a national anchor tenant
4/270, Oteha Valley Road, Albany, North Shore City
- Proposed Usage
- Floor Area
- 225.00 m²
- Auction Date
- 11:00 - May 15, 2019
- Property ID
- Prime retail investment with national anchor tenant - Daikoku
- Well-regarded popular restaurant with quality fitout and massive outdoor terrace
- Built-in market and CPI review offers rental growth
A rare investment opportunity offered to the market comprising a retail area of approximately 175sqm, as well as an outdoor terrace of approximately 50sqm. The massive elevated and covered outdoor terrace offers a fantastic and unique dining experience to the tenant's customers. The property is leased to Daikoku on a 10-year term returning net $97,520pa + GST. Daikoku is a popular Japanese restaurant business established in 1989, situated in seven locations across New Zealand - with additional restaurants located internationally.
The Foundation is a multi-purpose development located on a strategic corner site on Oteha Valley Road, a main arterial which runs between the Albany Highway and the Northern Motorway, and Appian Way, a main link road to Westfield's Albany shopping mall and right next door to the North Harbour Stadium. Developed jointly by Todd Property and Capella Property in 2014, The Foundation is a vibrant complex which reflects the modern retail trend of popular shopping complexes.
23 different properties exist in the complex. The tenant mix was carefully selected, to provide an
exceptional complementary range of high-quality, modern offerings. Neighbouring businesses include Snap Fitness, Lone Star, Discovery Childcare Centre, Pita Pit, Tank Juice and Mitre 10 Mega.