1-5 Wainuiomata Road, Wainuiomata, Lower Hutt

Update - BP renews for 5 years

BP redeveloped this high profile corner site in 2006 as one of their flagship stations that also incorporates a carwash and wild bean cafe. Being 1 of only 2 service stations in Wainuiomata, BP enjoys a captive market and occupies arguably a superior site than its sole competitor.
Since going to the market BP have exercised their 5 year renewal early, giving investors a lease term certain through to 31 August 2026. In return the Vendor has granted BP one further 5 year right of renewal giving them options to stay on the site through to 31 August 2031
The property is zoned medium density residential and judging from the initial interest from developers it will be in strong demand for redevelopment should BP ever vacate.

• 2427 sqm site Leased to BP Oil NZ Ltd
• Tenant owns all improvements and pay outgoings
• Over 5 years remaining on current lease term
• Rent review due next year
• Net annual rental $125,633 + GST

To obtain copies of all supplementary documents please register your details at https://www.propertyfiles.co.nz/property/1-5WainuiomataRoad_Wainuiomata