Cambridge retail property portfolio for sale or lease
A substantial portfolio of retail stores in a major new lakefront commercial and residential development in the heart of the Waikato has been placed on the market for sale.
The multitude of sites for sale are located in the Lakewood subdivision in Cambridge - built on the previously undeveloped historic railway yards between the town’s existing central business district and Lake Te Ko Utu.
As a mixed-use development, the
Lakewood precinct contains a combination of new-build residential dwellings, and a substantial portion of commercial sites – expanding Cambridge’s currently tightly-held town centre capacity.
Final units within Lakewood are now being marketed for sale or lease by negotiation through Bayleys Hamilton. Salespeople Alex ten Hove, Jason Kong, Jordan Metcalfe, Rebecca Bruce and Willem Brown said the sites for sale included four tenanted investment sites, and a number of owner occupier units.
The four tenanted units for sale include:
- A 46sqm space occupied by sports supplement retailer Sportsfuel on a new six-year lease with two further six-year rights of renewal, generating net annual rental of $18,800 plus GST;
- A 90sqm space occupied by personal grooming boutique Glamour Hair & Beauty on a new six-year lease with two further eight-year rights of renewal, generating net annual rental of $33,500 plus GST;
- A 242sqm space occupied by mortgage broking firm Lime Group on a new six-year lease with two further six-year rights of renewal, generating net annual rental of $63,250 plus GST; and
- A 73sqm space occupied by food and beverage outlet Habitual Fix on an eight-year lease with two further six-year rights of renewal, generating net annual rental of $29,280 plus GST.
Meanwhile, the nine owneroccupier units being offered for sale or lease range in size from 79 square metres up to 289 square metres and can be used for either retail or commercial office space. There is also an ability to combine adjacent units to create a bigger tenancy.