This is a rare assignment of lease opportunity for a heritage basement-level premises that has been home to Modelair, a speciality model and hobby store specialising in plastic model kit sets, Tamiya RC, and die-cast collectables as well as general model and hobby supplies, for over 100 years.
For the first time since 1922, this iconic Dominion Road space is now available. With more than a century of continuous operation from the same location, the site holds significant heritage value.
LEASE SUMMARY:
• Initial term - 6 years (1 November 2023 – 31 October 2029)
• Renewal option - 1 x 6-year right of renewal (final expiry 31 October 2035)
• Annual rent - $35,000 + GST ($2,916.66 + GST payable monthly)
• Market rent reviews every two years and at renewal
• Outgoings 100% recoverable (approx. $8,235 + GST per annum)
• Includes - rates, insurance excess ($2,000), utilities, cleaning, maintenance, and rubbish collection
For more information or to arrange a viewing, please contact the listing agent.
See this listing on Barfoot & Thompson
