This is a smart industrial investment with two well-presented buildings on one title. There is the opportunity to purchase the whole property or subdivide the site to create two titles. One title would include the Blackwoods and DHB tenancies and the other would include the rear warehouse and office, which could be sold off individually.
At the front, a modern building built in 2010 is leased to NZ Safety Blackwood’s on a 5-year lease from October 2021 with two further 5-year rights of renewal, currently paying $113,411 per annum. The space includes 87m² of office, 388m² of showroom, and 125m² of warehouse. Rent reviews are every two years.
The middle tenancy is leased to Hawke’s Bay District Health Board on a new 10-year lease from December 2023, returning $149,483 per annum. This space includes offices, warehouse, mezzanine, and canopy, totalling over 1,600m².
At the rear, the original 1995 building is currently vacant, offering a 1,574m² warehouse, 268m² of office, and 326m² of canopy — ideal for owner-occupiers or to add further income.
The rear building has been assessed by GDC Consultants as 80% NBS in 2022, with the front buildings post 2004 building code and expected to be at least 100% NBS.
For more detailed information, call Danny on 021 826 496 or Calum on 027 698 6996 today.
Features:
- Land area 6699m² (approx.)
- Net letable area 4041m² (approx.)
- Seismic rating 80%
- Current net rent $262,894 per annum
- Drive through access to Orchard Road
More information: https://www.colliers.co.nz/p-NZL67035587
