Top-notch tenants in Waikato
A sprawling high-volume site with internationally renowned tenants next to the busy Waikato Expressway serves as a highly attractive opportunity for buyers searching for an investment with vast growth potential.
Taupiri Service Centre at 2189 Gordonton Rd is a large freehold site spanning 4.0988ha, which enjoys huge profile, given its proximity to State Highway 1.
Less than 20 minutes to Hamilton suburb Te Rapa or
60 minutes to Auckland Airport, the property is situated on the western side of the Gordonton Interchange as part of the Waikato Expressway, ensuring high traffic numbers.
Colliers has been exclusively appointed to market the property for sale by deadline private treaty closing at
4pm on Wednesday 1 September, unless sold prior. The site comprises a block of originally rurally zoned land that was consented for a service centre via a private plan change process.
Anchored by a large ground-leased BP service station at the southern end, the northern frontage houses a ground-leased McDonald’s restaurant.
The total net estimated rent is $801,335 plus GST per annum. The BP site occupies 1.3ha while McDonald’s spans 3304sq m. Both have long-term leases providing security and safety for buyers. These leases make up more than 40 per cent of the overall net annual rental income.
Other tenants include Taco Bell (250sq m building) on a lease which began in January 2021 and will run for
10 years with two further rights of renewal for five years each; Robert Harris (200sq m premises) from November 2020 for six years with two rights of renewal for six years each; Subway (78sq m property) on a
10-year lease from December 2020 with two rights of renewal for six years each; The Kebab Shop (78sq m premises), six-year lease from January 2021 with one six-year right of renewal.
There also agreements in place for a restaurant and bar, and liquor store for the retail strip.