Colliers is proud to present this substantial industrial property in the Tauriko Business Estate, returning $849,000 per annum plus GST on a long lease.
The property is leased to Steelworks NZ Ltd, a well-known local structural steel fabricator that has been involved in major projects throughout town and across the upper North Island. The company recently moved into this facility to streamline operations and give the business room to grow.
Steelworks have subleased part of the property to Kiwi Bus Builders, who are well established on the site and also occupy the neighbouring property.
The lease runs for 11 years from 2024 at market rent, with fixed 2.5% annual increases and regular market reviews.
The 5,084m² building is a versatile high-stud, well-built fabrication and distribution warehouse with a gantry crane, offices and staff facilities. It's a generic, functional design that suits a wide range of industrial tenants.
The building sits on around 10,000m² of concreted, low maintenance yard, a large landholding in an area where industrial land is increasingly hard to find. The land and building value sits behind the income and supports long-term growth.
Tauriko is one of Tauranga's strongest industrial areas, well connected, via major arterials and close to Tauranga Crossing.
Contact Rob or Rich for more information or to arrange a viewing today.
Features:
- Current rental $849,000 + GST & OPEX
- Long 11-year lease from 2024 + ROR & 2.5% annual growth
- Established steel fabricator
- Versatile 5,084m² building with Gantry Crane
- Approx net 10,000m² land area fully concreted
- Stage 1 Tauriko Business estate close to Tauranga Crossing
- Functional staff and office facilities
More information: https://www.colliers.co.nz/p-NZL67040964
