39 Station Road, Kaikohe, Far North

Anchor-tenanted by the only general merchandise retailer in Kaikohe, 39 Station Road offers investment security with a committed national tenant that has a growing secure market share. The Warehouse Limited has a strong and unchallenged position in Kaikohe. With consumers in the regions strongly opting for in-store purchasing, The Warehouse Limited has recognized the local consumer demand and further cemented their presence in the heart of Kaikohe. In addition to general retail, the grocery and fresh produce supply by The Warehouse continues to make a serious impact in the Kaikohe grocery market. The existing lease, originating from 2003, has new extended term been executed with an 8 year term at $329,600+gst p.a. from August 2024 with further renewals and rent increases. In addition to The Warehouse tenancy, the purchase includes a smaller office building with Mid North Pregnancy Choice occupying the tidy retail space since 2020 with a rental of $22,000+gst p.a. Bringing the total net income to $351,600+gst p.a. The Warehouse tenancy is a modern tilt slab and steel building that features a loop-around truck access delivery bay at the rear, away from the public which provides the store with an excellent flow for new arriving goods to the store floor. The landlord recently invested over $420,000 into the building to provide a main A/C system replacement and LED lighting upgrade through-out the main building. The property offers an abundance of car parking on its 2 titles as well as shared parking with other consumer-magnets such as MacDonalds and Woolworths, further fueling the area's retail demand. With the vendor committed to an investment elsewhere, the opportunity is now to put forward your terms. Contact Paul or Steve today for a comprehensive information package including the Information Memorandum.