Here is your chance to secure highly sought-after industrial land in a prime Penrose/Mount Wellington location. The property benefits from three titles, making it ideal for long term development - the options are endless. Whilst you put your creative mind into action, you can collect a holding income of $176,400 net p.a. + GST from NZX-listed Turners Cars. Astute investors will quickly realise that the $25/m² yard rate is well below market for this extremely tightly held location and will no doubt rise significantly in future (current evidence suggests up to $75/m² for sites with similar use). There is no better investment than income producing land. Call us now!
Location, Location, Location! Situated on Great South Road in Penrose, this site reigns supreme; only 1.1km to SH1 via Church Street or 1.3km via Mount Wellington Highway. Beyond this, it benefits from huge exposure, with nearly 30,000 cars passing by daily, making it one of the most sought after commercial locations in Auckland. Penrose has long been considered an industry powerhouse and is one of the most established and central suburbs in Auckland. It’s rich history has seen many businesses thrive due to it’s close connection to the main railway line and key transport infrastructure such has SH1 and SH20. It has excellent access to the Airport and both the CBD and Inland Ports, and is home to many high profile brands such as Mercedes, Repco, Recall, Aggreko, BOK Gas, and Fletchers to name a few.
Features:
- 7,131m² freehold site
- Heavy Industry zoning
- 82m of street frontage to busy Great South Road
- Sealed and secure site
- Returning $176,400 net p.a. + GST
- Three freehold titles
More information: https://www.colliers.co.nz/p-NZL67015403
