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Hook This One

Napier, 60 Taradale Road

Price by Negotiation

Listing Number: NA6738
About this listing
This profile location within the main industrial area of Napier awaits a new owner as the vendor looks to divest and enjoy the fishing.

The property comprises two adjoining single storey industrial buildings that provide workshop and warehouse space and has a substantial yard. With the smaller of the two buildings providing a gross floor area of 557.8m2 being configured as a Marine Workshop. The larger has a gross floor area of 884.8m2 and is a Gym. This presents an opening for the astute investor to expand their portfolio.

Of note the smaller of the two tenancies has a rent review due which provides an opportunity to improve Net Yield.

Key features:

Land size: 2,744m2
Located in a tightly held market
Market rent review due mid 2019 for Tenancy 1
Currently Returning $88,062
Low Napier Industrial vacancy rates

Act now and secure this opportunity.
Property Information
  • Approx Floor Area: 1442 sqm
  • Land Size: 2744 sqm
  • Tenure: Fee Simple
  • OPEX $: 22592.31
  • OPEX p/sqm $: 15.66
  • Property Type: Warehouse, Tenanted Investment
  • Property Features: Two adjoining commercial buildings.
  • Approx Floor Area
    • Office Square Metres: 206
    • Warehouse Square Metres: 1236
    • Stud Height Mtrs: 5
  • Tenancy 1: Commencement Date: 01 January 2018, Expiry Date: 31 December 2021, Rental net/gross p.a.: 68000.00, Review Dates: 31 December 2021, 31 December 2024, Rights of Renewal: Two (2) rights of three (3) years each, Tenant Name: Punch Fitness NZ Limited, Term (years): 3
  • Tenancy 2: Commencement Date: 20 June 2016, Expiry Date: 20 June 2019, Rental net/gross p.a.: 39587.00, Review Dates: 20 June 2019 and 20 June 2022, Rights of Renewal: Two (2) rights of Three (3) years each, Tenant Name: Hawke's Bay Marine 2016 Limited, Term (years): Three (3) years
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