Investore Property Limited announced it has entered into an unconditional agreement to purchase an existing large format retail property at 4 Carr Road, Mt Roskill, Auckland for $36 million. The property is a 1.1 hectare, high profile, fully occupied site anchored by Rebel Sport and Briscoes with two other retail tenancies. It is located immediately adjacent to Investore's existing property on Carr Road which is occupied by Bunnings Warehouse, and takes Investore's aggregate land holding at Carr Road to 3.85 hectares. The property was extensively redeveloped in 2019 and comprises 5,332 sqm of net lettable area with a weighted average lease term of 10 years as at the date of settlement. The initial passing yield on acquisition is 4.0% and settlement is expected to occur in August 2021.