Act Now! 9.34% Net - Strong Leases

9.34% Net Return!

46 Cresswell Street offers an affordable industrial warehouse, with two tenants in place ensuring split risk income. Both leases have been renewed, with the next lease renewals not until 2031.

The property sits in an established industrial location on Cresswell Street, in the "wharf" industrial area of the CBD. The property is surrounded by a number of well established industrial and trade businesses including, CHEP, McCormick Carrying, Farra's Engineering, Action Engineering, Kaans Catering, and many more.
Cresswell Street also intersects the main arterial route from Portsmouth Drive to the CBD (Thomas Burns Street), ensuring convenience for any occupant.

The two current tenants are Office Furniture Specialists Limited, and Programmed Maintenance Services (N.Z) Limited, with current lease terms for both, not for renewal until 2031.

The property is situated on an approx. 482sqm leasehold site. Importantly, current ground lease costs are paid by the tenants (as a tenant payable outgoing).

If you want to add an affordable, tidy industrial with two tenancies, on strong lease terms, to your portfolio - this one could be for you.

Reduced!
For Sale at $499,000 plus GST (if any) (an approx 9.34% net yield).

Contact a nominated broker for more information.