19–25 Montgomery Road is a split-risk industrial asset with two established tenants returning a combined rental income of $271,480 + GST per annum. The major tenant, New Zealand Manufacturing Limited (NZM), is a long standing occupier utilising both 23 and 25 Montgomery Road for manufacturing and administration purposes, while the Bay of Plenty Regional Council occupies 19 Montgomery Road for storage and administration. NZM have just renewed for a further 4 years from May 2026. Both leases have regular rental growth built in, with current rental rates providing headroom for further increases over time.
The three large industrial buildings are set across a total of 3,778m² of land held in three individual titles. The buildings provide a combined floor area of approximately 2,066m² and offer excellent accommodation for manufacturing and storage uses. The high stud construction, complete with gantry cranes, is rarely available in this market and would suit a wide range of manufacturing tenants, making the asset highly attractive to both current and future occupiers. All buildings are rated at or above 90% of NBS (ISA).
The underlying land carries a commercial zoning, lending itself to a wider scope for long term future redevelopment including office, retail, and high density residential. The tightly held central location continues to be popular with tenants, and the three title structure provides additional strategic flexibility for long term portfolio management or future repositioning of the asset.
Contact Rich or Rob for more information.
Features:
- Current net rental $271,480 + GST p.a
- Two established tenants
- Major tenant has just renewed for 4 years
- 2,066m² total floor area (approx)
- 3,778m² land across three titles
- All buildings rated at or above 90% NBS (ISA)
- Commercial zoning
- Redevelopment potential
- Regular rental growth built into leases
More information: https://www.colliers.co.nz/p-NZL67040108
