458-464 Ferry Road, Christchurch Central, Christchurch

12 year lease to Gull NZ Limited

Situated on the main arterial servicing the eastern suburbs of Christchurch, including Sumner, Ferrymead and Lyttleton, with over 19,000 vehicle movements per day, this Gull self-service petrol station is perfectly located to service commuters. There is upside to this asset with a portion of development land adjacent to the self-service gas pumps, allowing opportunity to develop or land bank. Gull New Zealand Limited have a 12 year initial term on their ground lease, owning their improvements which will be removed at the termination of their lease, opening up further long term upside to this corner site whilst enjoying set growth and cashflow throughout the lease.

• Prime 2,023sqm high profile corner site
• Returning $170,000.00pa net plus GST
• 10.6 year WALT
• Immediate development upside on balance of land
• Strong tenant covenant with over 100 sites across NZ

For more information, contact either of the below agents;

Tom Davison
021 880 733
tom.davison@bayleys.co.nz

James Hill
021 599 529
james.hill@bayleys.co.nz

Benji Andrews
027 676 6707
benji.andrews@bayleys.co.nz