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Papamoa

Unit 8/42 Gravatt Road, Papamoa, Tauranga & Surrounds

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216sqm Floor area
122 Offstreet

Solid investment returns: Cotton On


Outstanding opportunity to purchase Unit 8, 42 Gravatt Road, comprising dual tenants in the coveted Fashion Island retail complex in Papamoa. Major tenant Cotton On commenced a new 10 year lease from 29 September 2020 for a final expiry date of 28 September 2030. Superb long lease tenure and such strong tenant covenant for you to purchase this prime asset with the utmost confidence. Neighbour Cycleworx is a bike sales, service and repairs business. Cycleworx commenced a four year lease from 31 March 2022 with a final expiry date of 31 April 2032.

The centre was extensively upgraded and refurbished in 2017, which also included the shopfront facade to create a distinctly recognisable destination shopping centre. Shoppers can easily find a park with the convenience of 122 car parks shared on site.

Investors can buy with the confidence of an A-grade seismic rating and low-risk construction materials. Call Team Bradley today for a full Fashion Island information pack to secure a passive investment performer.

Asking Price NZ$1,750,000 + GST (if any)
Ryan Bradley

Ryan Bradley

Commercial and Industrial Sales and Leasing

Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Brendon Bradley

Brendon Bradley

Commercial Sales and Leasing

Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Lynn Bradley

Lynn Bradley

Commercial Sales and Leasing

Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008

Features

Rent review


4% annually

Occupancy


Cotton On & Cycleworx

Floor area details


215.61sqm (approximately)

Passing income


$108,909 + GST & OPEX

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