Situated in the heart of the Tamaki Edge Precinct, this location in St Johns is a long-established pocket of Light Industrial zoning servicing a large surrounding residential area – The Eastern Suburbs. This is a strategic growth area in the corner of Mt Wellington close to Stonefields and the Lunn Avenue Commercial and Retail Centre, on a major arterial road with a high traffic count. To maximise exposure, there is a 110-metre road frontage.
The site includes a number of warehouse and office configurations totalling approx 6,796 sqm, with eight established tenants showing an annual return of over $679,000 per annum plus outgoings.
The triangular land holding of 11,513 sqm is leasehold with an annual ground rent payable, and enjoying the benefit of 21-year perpetual renewals.
The substantial annual rental offers a split risk opportunity for that all-important income as the property is fully tenanted in a high demand location. Future owner-occupiers may take a position here and expand their businesses when appropriate, or investors may regard this opportunity as an immediate cash cow investment.
Features:
- Well Maintained Industrial Buildings – 6,796 sqm
- Substantial Income - $679,000 per annum
- Rental Growth Potential
- Perpetual Ground Lease on 11,513 sqm
- Light Industrial Zone
- Main Road Exposure
An Information Memorandum is available on request.
