 Asset Class: | Retail |
 Price: | $ 1109538 |
 Net Yield: | 6.50 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
Outstanding opportunity to purchase Unit 10, 42 Gravatt Road, in the coveted Fashion Island retail complex in Papamoa. This unit is tenanted by premium Australian fashion brand Decjuba that has grown from 6 to 120 stores since 2008 retailing edgy fashion at an accessible price point. <br><br>This is a top performing brand at Fashion Island that has a 5 year lease term from 11 November 2021 plus a further 5 year right of renewal for a final expiry date of 10 November 2031. Strong tenant covenant equals sound investment profile for peace of mind. <br><br>The purpose-built unit-titled precinct in the popular Bay of Plenty seaside community is home to 19 businesses including strong international apparel brands, local beauty and fashion-related service providers, and popular food outlets.<br>
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Tauranga is the second fastest growing city in New Zealand and has one of the country’s top performing regional economies.<br>Located 2 ½ hours drive South East of Auckland, Tauranga is home to approximately 161,800 people. It forms part of New Zealand’s economic Golden Triangle.<br><br>This area accounts for over half of the country’s economic output. In the 10 years to 2024, Tauranga’s economy grew at a compound annual growth rate of 4.8%. Over the same period, New Zealand’s economy grew by 3% pa.<br><br>Positioned ten kilometres east of the Tauranga CBD, Fashion Island is located in the Papamoa Town Centre; a large format retail development anchored by a Pak’n Save supermarket and a Mitre 10 hardware store. ANZ, TAB, Repco, KFC and a large medical centre all form part of the Papamoa Town Centre.<br>Located directly opposite this town centre is Papamoa Plaza, an indoor shopping mall, anchored by a Countdown Supermarket and The Warehouse.
Additional Location Information FileAt Decjuba, we are a purpose-led Australian fashion brand with a vision to make our customer look and feel amazing.<br><br>We are known for aspirational, effortless styles that make it easy to create an amazing outfit every day. We deliver our vision through our three incredible brands – Decjuba, D-Luxe Basics, and Decjuba Kids.<br><br>We are a proudly female-founded and led fashion brand with over 1500 team members across our global head office and Decjuba retail stores. Reimagined by Tania Austin in 2008, Decjuba is the go-to brand for thoughtfully designed pieces with a strong nod to the laid-back Australian feel. Since then, our retail footprint has grown to over 170 doors in Australia and New Zealand, with a global presence online.<br><br>At Decjuba, making our customer look and feel amazing is what we do, and we love what we do!
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Unit 13, Fashion Island - Cotton On Kids - 251 sqm - $454 / sqm Unit 14, Fashion Island - Converse - 275 sqm - $412 / sqm Unit 8, Fashion Island - Cotton On - 175 sqm - $501 / sqm
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Returning $72,120 Net + GST & OPEX</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Net Yield of 6.5% at Rethink Negoitated Price</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Building extensively refurbished in 2017 including an upgraded facade</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Good seismic rating of 80% of NBS (The building was designed in 2005 using a Soil Class C for the site and had a rating of 100% NBS. In 2016 Tauranga City Council advised that all sites in the Tauranga area were to be considered Soil Class D)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Floor area of 166 sqm ($434 / sqm)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Fixed annual rental reviews</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">The complex is 100% leased to a mix of well-known Australasian brands</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Excellent on-site parking with 122 shared car parks for the centre</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Fashion Island is Tauranga and the Bay of Plenty’s only outlet shopping centre</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Located in a rapidly growing residential catchment area</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Established retail destination - anchored by Pak’n Save, Mitre 10, Countdown and The Warehouse</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Exclusive use rights to operate as an outlet shopping centre</span></p></li></ul>
