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Onekawa, 62-68 Austin Street

High Return Up For Grabs

Price by Negotiation

Listing Number: NA6365
About this listing
This leasehold property reflects well on the current owners. Tightly held for over 30 years they now direct that their multi tenanted investment property be sold. With 4 good tenants in situ and current lease terms with a WALT of 2.6 years, the senior tenant has been on site since 2005 and makes for a sound investment!

With a ground lease recently re-negotiated the new owner has the confidence in knowing the ground lease is fixed until November 2022.

Returning an outstanding $120,000 net, with annual CPI and Market Rate Reviews in place this return is set to increase.

Features:

- Location - Austin Street, Onekawa
- Corner site
- Engineers report indicating NBS of 100%
- Property set across 2 titles

Do the math, this investment adds up.
Property Information
  • Approx Floor Area: 1880 sqm
  • Land Size: 3862 sqm
  • Tenure: Cross-lease
  • Ground Lease $: 45,000 p.a.
  • Property Type: Warehouse, Office, Retail, Tenanted Investment, Industrial Land
  • Tenancy: Additional Details: 100% NBS Landlord pays ground lease
  • Tenancy 1: Commencement Date: 2012-04-23T00:00:00.0000000, Rental net/gross p.a.: 62835.00, Review Dates: Annual, Rights of Renewal: 1 x 5 year ROR, Tenant Name: Complete Automotive Repair Service, Term (years): 5
  • Tenancy 2: Commencement Date: 2016-05-01T00:00:00.0000000, Rental net/gross p.a.: 29209.51, Review Dates: Biennial, Rights of Renewal: 3 of 4 years, Tenant Name: KONNECT, Term (years): 4
  • Tenancy 3: Commencement Date: 2015-01-01T00:00:00.0000000, Rental net/gross p.a.: 66262.49, Review Dates: Annual, Rights of Renewal: 1 x 6 years, Tenant Name: Diesel Services Ltd, Term (years): 2
  • Tenancy 4: Commencement Date: 2012-10-01T00:00:00.0000000, Rental net/gross p.a.: 29000.00, Review Dates: Annual, Rights of Renewal: 1 of 3 years, Tenant Name: Superlift Doors, Term (years): 3

Contact Details

Napier

Regent Realty Ltd

Licensed REAA 2008

308 Hastings Street
Napier South
Napier
Office website

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