Colliers is proud to present this substantial industrial investment in the Tauriko Business Estate, returning $849,000 per annum plus GST with the security of a long term lease.
The property is leased to Steelworks NZ Ltd, a well-known local structural steel fabricator that has been involved in major building projects throughout Tauranga and across the upper North Island. The company recently moved into this facility to streamline operations and give the business room to expand.
Steelworks have also subleased part of the property to Kiwi Bus Builders, who are well established on the site and also own & occupy the neighbouring property.
The current lease term runs for 11 years from 2024 at market rent, with fixed 2.5% annual increases plus regular market reviews.
The 5,084m² building is a versatile high-stud, drive through warehouse with 5 gantry cranes, with good quality offices and staff facilities. It's a generic, functional design that suits a wide range of industrial tenants and can be leased in several portions.
The building sits on around 10,000m² of usable land with low maintenance concrete yards. Such substantial land holdings in this area are increasingly hard to find and underlie the future growth of this investment.
Tauriko is one of Tauranga's strongest industrial areas, well connected, via major arterials and close to Tauranga Crossing Shopping Centre.
Contact Rob or Simon for more information or to arrange a viewing today.
Features:
- Current rental $849,000 + GST & OPEX
- Long 11 year lease from 2024
- Established long term Steel Fabrication tenant
- Guaranteed 2.5% annual rental growth
- 5,084m² building with 5 Gantry Cranes
- Approx 10,000m² usable land area
- Close to Tauranga Crossing Shopping Centre
- Fully concreted and fenced yards
- Versatile building layout allowing multiple tenancies
More information: https://www.colliers.co.nz/p-NZL67040964
