Attractive property with long term lease covenant

This property located on the busy and high profile corner of Hillside Road and Bradshaw Street, South Dunedin offers some unique features which will be of great benefit to the new owner.
The tenant, Gillions Funeral Services Limited, have occupied the site for 45 years. The building components and layout, its location and the substantial on-site car parking make for an ideal premises for the tenant's business purposes.
Gillions are the tenant of a 25 year lease which commenced in 2008 and still has 13 years to run. There is a right of renewal for a further 25 years. Rental is reviewed every two years to CPI. Currently the net rental is $142,770.96 + GST plus outgoings.
The large land area of 2,769sqm (more or less) on a strategic corner location and sound buildings, together with the long length of lease makes this investment particularly attractive.
Tender closes 4pm, Wednesday 4th December 2019 and documentation is available upon request.
Call today for further information including lease, engineering report, etc.

Additional Features

  • Investment Type: Tenanted Investment

  • Commercial Type: Other

  • Sale Location: 35 The Octagon, Dunedin

  • Sale Rule: (will not be sold prior)

Robin Hyndman (Phone +64 27 488 8450)
Robin Hyndman
Commercial and Industrial Consultant
320 Moray Place
City Centre
• Central city investment over three levels, seven car parks • Profile intersection with double street frontage • Recently strengthened 380sqm b...