COUNTDOWN HUNTLY
This syndicate was established in December 2011. Countdown Huntly sits on a prime, high profile site of 9,764 square metres bordering State Highway One, New Zealand's main north-south trunk highway. Access comes via Tumate Mahuta Drive with ample on-site carparking.
The buildings were constructed in 2007 and house Huntly's only supermarket. It is a large single level building of 3,205 square metres covering only 33% of the site. The property is subject to a brand new 20 year gross lease to General Distributors Limited (the principal operating entity of Progressive Enterprises Limited, which in turn is part of the ASX listed Woolworths Limited). With further rights of renewal totalling 40 years the final expiry date is 2071. Current gross rental is $725,000 p.a plus GST.
The property was purchased for $8,300,000 and projected to provide an initial cash return of 9.0% p.a. 109 units in the scheme were subscribed for by investors at $50,000 each.