2,427sqm
land area
|
4:00PM |
Level 14, The Bayleys Building, 36 Brandon Street, Wellington
Annual rent | $125,633 + GST |
Ground Lease | Selling the land only, Tenant owns all improvements |
Net Lease | Tenant pays all outgoings |
Tenant obligations | Remove all improvements and make site good at lease expiry |
Underlying zoning | Arguably more valuable as a redevelopment site |
BP redeveloped this high profile corner site in 2006 as one of their flagship stations that also incorporates a carwash and wild bean cafe. Being 1 of only 2 service stations in Wainuiomata, BP enjoys a captive market and occupies arguably a superior site than its sole competitor.
Since going to the market BP have exercised their 5 year renewal early, giving investors a lease term certain through to 31 August 2026. In return the Vendor has granted BP one further 5 year right of renewal giving them options to stay on the site through to 31 August 2031
The property is zoned medium density residential and judging from the initial interest from developers it will be in strong demand for redevelopment should BP ever vacate.
• 2427 sqm site Leased to BP Oil NZ Ltd
• Tenant owns all improvements and pay outgoings
• Over 5 years remaining on current lease term
• Rent review due next year
• Net annual rental $125,633 + GST
To obtain copies of all supplementary documents please register your details at https://www.propertyfiles.co.nz/property/1-5WainuiomataRoad_Wainuiomata
Licensed under the REA Act 2008
Mobile: +64 27 444 7656 |
Office: +64 4 499 6022 |
james.higgie@bayleys.co.nz |
Licensed under the REA Act 2008
Mobile: +64 21 427 603 |
Office: +64 4 499 6022 |
mark.hourigan@bayleys.co.nz |
2,427sqm
land area
|
4:00PM |
Level 14, The Bayleys Building, 36 Brandon Street, Wellington
Annual rent | $125,633 + GST |
Ground Lease | Selling the land only, Tenant owns all improvements |
Net Lease | Tenant pays all outgoings |
Tenant obligations | Remove all improvements and make site good at lease expiry |
Underlying zoning | Arguably more valuable as a redevelopment site |
1-5 Wainuiomata Road, Wainuiomata
Open in mapLicensed under the REA Act 2008
Mobile: +64 27 444 7656 |
Office: +64 4 499 6022 |
james.higgie@bayleys.co.nz |
Licensed under the REA Act 2008
Mobile: +64 21 427 603 |
Office: +64 4 499 6022 |
mark.hourigan@bayleys.co.nz |
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