12-year lease to NZ manufacturing leader

Bayleys is pleased to present Building A, 75 Waikura Road, Drury, a brand-new freehold industrial investment leased to Slumberzone New Zealand Limited, one of New Zealand's leading mattress manufacturers.

Purpose-built for the occupier, the property comprises a modern high-stud facility with premium office accommodation and expansive canopy areas, delivering the functionality sought by today's industrial tenants. The asset returns net income of $1,378,475pa + GST and is secured by a 12-year lease term, further rights of renewal, annual rental growth provisions and a bank bond security.

Located within the rapidly emerging Drury industrial precinct, this freehold asset presents a rare opportunity to acquire a brand-new investment combining long-term income security, built-in rental growth and a proven national tenant covenant.

Key features:

• Freehold land and buildings
• Net income of $1,378,475pa + GST
• 12-year lease with two further rights of six years
• Annual fixed rental growth
• Bank bond security
• Leased to Slumberzone New Zealand Limited
• Brand-new, high-specification industrial facility

For further information, contact the sole agents

Paul Steele
021 494 111
paul.steele@bayleys.co.nz

Greg Hall
021 023 21884
greg.hall@bayleys.co.nz