5 Year Lease with returns better than the Bank

highlights

This commercial property is located only meters away from State Highway 2, and adjacent to the high profile sites of The Warehouse and New World Supermarket.

This popular site is currently leased to Independent Tyres, and has not had a day vacant in over 20-years. The current 5-year lease term runs through to January 2026.
With an annual rental of $20,165 plus GST, and all outgoings paid for by the Tenant, this property offers a great hands-off investment opportunity.

The functional building has a floor area of 268m², and sits on a large land area of 1282m², allowing plenty of scope for additional development in the future.

WHY INVEST IN DANNEVIRKE?
DANNEVIRKE is the largest community in the Tararua District, located immediately East of Palmerston North City, and only approximately 2:45 hours (200kms) drive North East from Wellington City, and 75 minutes (100kms) from the Hawkes Bay townships of Hastings and Havelock North.
Dannevirke is a rural service town supporting Tararua District's primary industries. The outstanding pastoral land grows top quality stock producing meat, wool, and dairy products. Tararua District has a range of agricultural processing services within its boundaries that support the rural communities. Dannevirke also offer a range of retail and professional services, including banking, legal, accounting, and insurance. Just south of Dannevirke is the Oringi Business Park that is home to a range of manufacturing and service businesses.
The Tararua District is a high growth area, with record residential consent growth of 200% in the September 2020 year. Non-residential consents are also strong, rising by 57%.
GDP (provisional) in Tararua District was up 1.3% for the year to September 2020 compared to a year earlier. Growth was higher than in New Zealand (-3.3%) and higher than in the neighbouring Manawatu-Whanganui Region (-1.3%) - (source Infometrics)

Get in touch today for further details. These smaller scale investment properties are hard to find in todays market.

contact

Carl Hastings Real Estate Agent

Carl Hastings

04 979 9310

021 403 502

04 472 2056

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property information

  • Property Type Industrial
  • Price Negotiation
  • Suburb Dannevirke
  • Land Size 1282 m2
  • Building Size 268 m2
  • Listing Number 6029067

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