This is a rare opportunity to purchase an immaculate post earthquake built, modern, low maintenance, fully tenanted investment, situated on high profile main arterial, Moorhouse Avenue.
In this current environment assets of this quality do not come on stream often. The property’s highlights include a long term 10-year lease (4 years remaining), fixed annual income growth of 2% per annum, post-earthquake construction, north facing high profile site, great tenant covenant among other key benefits.
With bank deposit rates dropping this provides a sound opportunity to secure a return well above these rates and secure a home for your capital for the long term.
Known as one of the ‘Four Avenues’ which border Christchurch’s CBD, Moorhouse Avenue has long been the highest profile and most sought after strip in the city. Occupied by National and International businesses who benefit from the vast traffic flows and signage opportunities, this location has historically low vacancy and high underlying land values.
The property comprises a substantial high profile site of circa 1,697sqm, being north-facing with a large frontage of 41m Moorhouse Ave.
The improvements comprise a newly constructed modern single level motor vehicle showroom and office premises purpose built for the current tenant and constructed in circa 2014. It also provides good off-street parking for customers and staff alike.
The building is further underpinned by its high profile location which is in the heart of the established ‘golden mile’ for vehicle sales along Moorhouse Ave, Christchurch.
The property is currently occupied by well-established tenant, SB Retail Limited trading as SBL International Vehicle Brokering. SB Retail Limited have the head lease over the property and then a portion of the property is sub-let to Chevron Quality Cars, both reputable long-standing Christchurch companies.
The property is offered for sale by price by negotiation.
*Boundary line are indicative only.
Features:
* Significant underlying land area - 1,697sqm
* Net income - $238,481 + GST + OPEX
* Fixed income growth - 2% per annum
* North facing site
* High profile location
* Well established successful tenant
* Off Street parking available
* ROR – 3 x 5 years
