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Commercial Property Investment Foundations, Ep 290

NZ Everyday Investor

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Getting a CCC on a Fitness Building

The building had no CCC, no coder compliance certificate and no building or on a fitness. At the rear, you had this massive industrial warehouse that was all under-rented at $85 a square metre. What we did is we renegotiated a brand new lease with the gym tenant who was a well-established business,. They were open to a new lease so we drew up a new six-year lease bank guarantee. The icing on the cake on this one was that they called us into their office and didn't want to renew the lease. Because we're out in such low vacancy area, it helped us when they said we're not renewing the lease. Within two weeks

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