Looking for a quality commercial property with a longstanding, national franchise, tenant?
2 The Town Centre, Turangi is a c.497m2 commercial building in the heart of Turangi, adjacent to the public car-park on a prominent site of 500m2. The building is leased to TIKI Holdings Turangi Limited trading as Hammer Hardware, a national brand with over 40 stores throughout New Zealand. Hammer Hardware has occupied this site for decades.
The building is comprised of a retail hardware showroom with a small portion of the space allocated to staff amenities.
The property is about 300m from State Highway One and extremely well positioned for convenience shopping, being in the centre of the Turangi public car-park. Close neighbours include; New World Turangi, Pihanga Health Centre, UniChem Turangi Pharmacy, Bayleys Real Estate, Z Energy Centre, and the ever popular Hydro Eatery.
The tenant has recently entered a new 3-year net lease with two 3-year rights of renewal, a current net rental of $67,000 pa and with outgoings met by the tenant. Annual CPI adjustments for the duration of the lease. Full lease details are available on application.
Situated 50 kilometres southwest of Taupō, Turangi acts as the primary commercial and service hub for the southern Lake Taupō region, benefitting from its strategic position on State Highway One. The local economy is sustained by a dual catchment: a permanent population of approximately 4,000 residents, supplemented heavily by a highly transient tourist market drawn to the area's trout fishing, Mount Ruapehu ski fields, and Tongariro National Park.
For detailed information, call Hugh 021 901 390 or Michael 027 826 2750.
Features:
* National franchise tenant
* Outstanding car-park profile
* New 3-year lease with 2 x 3-year ROR
* Net annual rental $67,000
* CPI adjustments annually
* c.500m2 land area
* c.497m2 building area
* Tenant pays rates & insurance
