Likely 10% yield on Mobil Service Station in Rotorua

In this market positively geared properties are almost
impossible to find. You have to either add value, buy vacant
buildings with the hope of tenanting them or make massive
investments to make a property cash flow positive before tax. Here is
an opportunity for you to purchase a petrol station in the heart
of Rotorua at 10% yield with a new 10 year lease. This is a
dream cum true passive investment. Skeptics will say something
is wrong with the property. The wealth creators will definitely
check this out.

Service Station investments are very popular and hard to come
by. We had a couple of them in Auckland last year and they sold
at yields around 6.5%.

We have a Mobile Service Station in Rotorua that is on a prime
main road location and was built only last year. The Service
Station is located on Te Ngae Road being the first service
station leaving the Rotorua CBD via this road. The immediate
area is well regarded for retail and industrial activities.
Situated around the Te Ngae and Tarawera Rd intersection is
Video Easy, Subway, Repco, La Bonne Bakery and Outdoorsman
Headquarters destination retail store. Te Ngae Rd carries a very
high traffic volume which is now in excess of 35,000 vehicles
per day past the subject property and increasing.

The property offered for sale is under three leases - the
Service Station, a cafe and a Rockgas LPG site. The Petrol pump
and Rock gas leases are for 10 years from October 2006 with
final expiry in 2026. The lease to cafe is for an initial period
of 6 years from July 2006 with two right of renewal of 6 years
each. The rent reviews are 2 yearly. The total rent roll is
$202,000 pa.

The land area is 2,052m2 freehold and is on four titles.

The property is being sold by Private Treaty. It is an excellent passive
investment considering it is virtually new, with excellent
tenancies and long leases. Your bank will love it and so should
you. If this property is of interest to please send me an email.

COLIN KUMAR
Commercial/Industrial
Barfoot & Thompson Commercial
m. 027 684 1114 | p. 09 358 0989 | f. 09 358 4048
PO Box 1798 . Shortland Street . Auckland City
c.kumar@barfoot.co.nz | www.barfoot.co.nz