Welcome to Porowini Ave. Whangarei's flagship of the commercial districts.
Teeming with vehicle dealerships, wholesales, retailers and commercial services. Owning property in this area is a strategic move as it retains a very strong attraction for almost every commercial aspect.
The vendor has put a realistic price expectation forward at $3,250,000+gst (if any), which is a 6.6% return on investment.
This investment offers 2 strong and long-term tenants in a very prominent location.
Z Energy's self service station is partway through a 20 year lease term and is locked in until 2033. Since 2023, they are paying $120,592+gst in rent. A new rent review is due in November 2028.
Prestige Auto Customs occupy the workshop of this well-exposed site and are currently paying $93,310. They have just committed to a renewed 6 year lease until June 2031.
Purchasing this property comes with peace of mind as Z Energy has the obligation to remediate any soil contamination prior to leaving the site.
This location is tightly held for its high demand. It provides for a safe and solid investment that retains its 'want-factor' for potential future tenants.
Contact Paul today on 021 183 5165
