Asking Price $3.35m +GST (if any)
A rare combination of secured lease income and genuine development upside in Richmond's premier industrial precinct.
This near-new freehold asset offers investors and owner-occupiers a foothold in one of the top of the south's strongest growth corridors with the flexibility to hold for income, develop for capital growth, or both.
Purpose-built in 2020, the 552 sqm warehouse is leased to The Concrete Company at $124,000 p.a. +GST with market rent reviews every two years and a final lease expiry out to 2040. A second tenant, Isaac Construction, occupies the front yard on a renewed term. Two quality construction-sector tenants delivering immediate cashflow from day one.
Only 40% of the 5,407 sqm freehold site is developed. The balance is a prime road-frontage parcel of approximately 3,400 sqm with roughly 40m of street and two road crossings already in place for heavy vehicle circulation. Hold it as a leased yard or develop Stage 2 to unlock significant capital growth in a precinct demonstrating consistent growth and demand.
Key features:
- 5,407 sqm freehold industrial zoned land
- 552 sqm warehouse | Built 2020
- $124,000 p.a. +GST secured rental | Market reviews every 2 years | Final lease expiry 2040
- 3,400 sqm undeveloped road frontage | Yard income or development upside
- Heavy vehicle access ready
- Suits passive investors, owner-occupiers, or add-value developers
Information Memorandum and Due Diligence available on request.
Enquiries to:
Brad Allam
Geoff Faulkner
* land and floor area are approx. only
More information: https://www.colliers.co.nz/p-NZL67040441
