Description: The subject property represents a fantastic opportunity to purchase a prominent property right in the centre of the popular 'Golden Block' on George Street, the main retail strip of Dunedin City. The property has recently been significantly upgraded and leased to international tenant Mountain Warehouse Limited on a long term lease.
The property sits in a high profile location within the 'Golden Block' on George Street, Dunedin's main street, surrounded by a number of well recognised businesses including Glassons, Hallensteins, Noel Leeming, McDonalds and many more, and also sits in close proximity to the Meridian, Golden Centre and Wall Street Malls.
The property has recently been leased to Mountain Warehouse Limited for an initial term of 8 years, plus two further rights of renewal of 4 years, with an annual rental of $200,000pa plus GST and outgoings, with a mixture of fixed rental growth and market reviews on renewal dates.
The property was recently significantly upgraded. Some of the upgrades including earthquake strengthening and heightening of the canopy.
For sale by Deadline Private Treaty closing Thursday 8th October 2020 at 4pm (unless sold prior).
Contact the nominated broker today for more information.