Placemakers Kerikeri, one of the Far North's largest retail properties and with a lease in place that potentially extends out close to the mid-century, goes under the hammer at Bayleys Real Estate in Auckland on December 5 unless sold earlier.
Placemakers supplies the building trade and the DIY market nationwide.
Bayleys is marketing the sale as "a good opportunity to secure a prime investment property in an affluent provincial growth area".
Bayleys executive director David Bayley of Auckland, who is marketing the property with Chester Rendell and Alan Broadbent of Bayleys Kerikeri, says lessee Fletcher Distribution Ltd (trading as Placemakers) had a strong history of performance.
The lease terms offered guaranteed rental income growth from three-yearly rental adjustments based on the increase in the Consumer Price Index, he said.