Bayleys Real Estate Web Site - November 4, 2005
Mitre 10, the leading home improvement retailer in New Zealand, is selling three stores at auction through Bayleys Real Estate.
Mitre 10 is taking an initial lease over each property for 12 years, with one nine-year right of renewal followed by three six-year rights of renewal. The leases incorporate rent reviews adjusted to CPI increases and to market. The three properties having a combined annual net rental income of$2.625 million.
Mitre 10 has 118 Mitre 10 stores, 83 Hammer Hardware outlets and 18 Palmers Gardenworld centres.
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Sunday, November 06, 2005
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