Colliers is proud to exclusively present this brand-new, fully leased neighbourhood centre in the heart of Milldale. Developed by the highly reputable Broadway Property Group, this high-performing asset is anchored by 14 tenants and returns $737,272 net per annum + GST. With a strong 6 year WALT and annual rental growth, this is a rare opportunity to secure a long-term, diversified income stream, in a high growth location.
The property comprises 1,338sqm of net lettable area on 1,798sqm of freehold land, split across two titles for future flexibility. Zoned ‘Neighbourhood Centre’ under the Auckland Unitary Plan, the centre further benefits from fixed annual or CPI rent reviews and a complimentary mix of tenants including a café, Pizza Hut, liquor store, offices, sushi store, takeaway’s, beauty services, bakery etc
Positioned on a prime corner site directly opposite Waterloo Reserve, the centre enjoys excellent visibility and accessibility in one of Auckland’s fastest-growing suburbs. With a projected population of over 15,000* residents and over 4,000* dwellings on completion, the Milldale Neighbourhood Centre is positioned to become a vibrant hub for retail, hospitality, and essential services, supported by strong demand, and limited nearby supply.
This exciting new offering must be seriously considered – call either of the Sole Agents today to register your interest.
Shoneet Chand 021 400 765 and Matt Prentice 021 464 904
*approximate figures based on forecasts and construction rates
Features:
* Returning $737,272 pa net + GST
* High quality, newly constructed development
* Fully leased with 14 tenants & 6-year WALT
* Mix of cash bonds & bank guarantees
* Complimentary tenant mix
* Fixed annual or CPI Rent Reviews
* 1,338sqm Net lettable area
* 1,798sqm combined land area
* Two titles provide future flexibility
* High growth Auckland location
