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Kaeo, 9 Leigh Street

High Yield Investment - Allied Petroleum and Retail Tenants

$649,000 Plus GST (if any)

Listing Number: KK25676
About this listing
This fantastic property offers high yields with great rental growth predicted. Ideally located at the entrance to town on the popular tourism route of State Highway 10. The property is tenanted by Allied Petroleum with unmanned pumps and Kaeo Farm and Fuel with long lease terms (8 years and 5 years remaining on current terms). High base rent plus fuel sales bonus rent above a threshold. Strong growth in fuel sales trending.

Kaeo Farm and Fuel has been servicing the greater Whangaroa and surrounding areas for over 50 years. The business provides a range of farm supplies, gardening supplies, hardware, food, bait and ice to a very loyal customer base.

The property consists of 1,034m² of commercially zoned land with 276.3m² of rentable floor area. The property has dual access, the main being from Leigh street and secondary from Waikare Ave which gives access to the Contact LPG tank and loading area.

Contact the commercial specialist for further details and an information pack.
Property Information
  • Approx Floor Area: 276 sqm
  • Tenure: Fee Simple
  • Property Type: Land, Retail, Tenanted Investment
  • Approx Floor Area
    • Office Square Metres: 13
    • Warehouse Square Metres: 123
    • Mezzanine Square Metres: 46
    • Retail Square Metres: 94
  • Tenancy: Total rental if more than 1 tenancy $ (+ GST): $61,569.40 pus GST, Additional Details: Rates 2017/2018 = $2,970.00 plus GST Insurance 2016 = $2,500 plus GST
  • Tenancy 1: Area Sqm: 276.3 + Yard, Commencement Date: 2017-12-18T00:00:00.0000000, Expiry Date: 2037-12-17T00:00:00.0000000, Rental net/gross p.a.: 17,000 + GST, Review Dates: on renewal (Market), Rights of Renewal: 3 of 5 years each, Tenant Name: Loyal Day Ltd, Term (years): 5 years
  • Tenancy 2: Area Sqm: 258m² + 305m², Commencement Date: 2015-08-01T00:00:00.0000000, Expiry Date: 2035-07-31T00:00:00.0000000, Rental net/gross p.a.: 30,000 + GST, Review Dates: 3 yearly on anniversary of commencement date., Rights of Renewal: 2 of 5 years each, Tenant Name: Allied Petroleum Ltd, Term (years): 10 years

Contact Details

Kerikeri

Bay of Islands Realty Ltd

Licensed REAA 2008

74 Kerikeri Rd
Kerikeri
Office website

Property Location

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