Colliers Tauranga are proud to present this brand new commercial investment to the market. An upcoming rent increase in August will provide an immediate uplift in value. Take advantage of the substantial depreciable fit-out.
The property is tenanted by a multi-national fitness brand and a proven & experienced local operator. The lease has approx. 5 years to go and has 3% p.a. growth built into it, with a hard ratchet on market. The tenant complements other tenants in Spring well with their busiest times falling outside normal business hours. The premises is equipped with a generous base build specification which the tenant has expanded upon with a high-end, state of the art gym fit out.
Spring Papamoa is a high quality Fosters development, nestled in the heart of Papamoa’s newest commercial development, Papamoa Junction. Spring Papamoa is anchored by Tauranga Eye Specialists, and boasts a range of other high quality tenants and occupiers including Blur Opticians, Mocha N More (café) and Beyond Dental. S30 adds to this already diverse mix and brings its own style and energy.
Contact Rich and Simon for further information or to arrange a viewing.
Features:
* Rental: $99,652.50 plus GST
* Total floor area: 287m2 (approx.) including a 205m² ground floor area and 82m² mezzanine
* 5 years remaining on lease term
* 6 exclusive car parks
* Commercial zone
* Generous base build with high end tenant fitout
* Highly depreciable landlord owned fitout
* Profile to Te Okuroa Drive
* Multi-national gym brand
* Thriving tenant with proven track record
