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EXCLUSIVE Commercial Opportunity. New Building. Iconic tenants. Long leases. 9.0% p.a. projected return. Only 2 x NZ$1M parcels left!

12 September, 2011

Construction of this quality development, strategically located corner site in the retail hub of Hastings (Hawkes Bay, New Zealand), commenced in March 2011 and it is anticipated that this will be complete by the end of March 2012. The rentable area of the building will be approximately 6,502 sqm with associated on-grade carparks. Key features of this opportunity:

  • Projected initial cash return of 9% p.a
  • 15 year initial lease plus 3 rights of renewal of 5 years each to  100 year old “household name” iconic tenant (96% of net rent)
  • 6 year lease to well known bank from August 2007 with 1 right of renewal of 6 years (4% of net rent)
  • Rent  reviewed 3 yearly to CPI providing assured rental growth
  • Brand new retail building in the heart of Hastings, currently being developed
  • Very conservative gearing at just 37% loan to valuation ratio
  • Non-recourse interest-only bank funding – 5 years
  • Fully managed by experienced manager

There were originally only 11 individual proportionate titles available, at $1 million each, in this exciting new development. There are now only 2 units left.

Contact us for further information – Go to the website 

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