Investment, Long Term Lease to "Lonestar"

Property ID 1353728

An outstanding corner site, close to the harbour and within a popular entertainment precinct of Wellington's CBD. This renowned restaurant and bar occupies part of the ground and first floor. The popular "Lonestar" is a well established institution in New Zealand with 27 franchised restaurants throughout New Zealand. View at www.lonestar.co.nz

Lonestar is currently within a renewed term of 10 years expiring in 2021 (+ two further Rights of Renewal of 10 yrs and 5 years each). Rental returning $202,154pa* + GST + outgoings.

An excellent lease with annual rent reviews providing excellent built in growth plus personal guarantees for added security. The building was strengthened in 2001 and has been assessed at 40% NBS. The Body Corp is currently looking at strengthening it further. (* approx)

Call Adrian Raine 021 344 246 for further information.

Price for Sale: By Negotiation + GST (if any)