A fully tenanted industrial property near Hamilton Airport is available for purchase and will attract the interest of buyers seeking a passive investment opportunity with a steady rental stream.
Located at 149 Ossie James Drive, the freehold property is held in a single title and is home to four individual tenants on varying lease terms with built-in rental growth.
The property, which comprises multiple highly functional units, has 1,831sq m of total building area and sits on a 3,501sq m site. It returns $324,446 plus GST and outgoings in net annual rental income.
The near-new facility is only 900m from the entry to Hamilton Airport and the Waikato Expressway can be reached in less than 10 minutes, opening up connectivity to other areas of New Zealand’s economic ‘Golden Triangle’, which includes Auckland and Tauranga.
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Hamilton is a city that is enjoying steady population and business growth with the number of business units outpacing the national average for nearly the past decade according to data from Infometrics.
Meanwhile, in the past five years, Hamilton City’s population has grown by an average of 1.8 per cent, compared to 1 per cent growth in New Zealand.
Colliers Hamilton Brokers David Palmer and Justin Oliver have been exclusively appointed to market the property for sale via deadline private treaty closing at 3pm on Wednesday 3 December, unless sold prior.
Constructed in 2023, the units include a mixture of warehouses and office space, while each tenancy has dedicated car parking.
Palmer, Associate Director at Colliers Hamilton, says this property offers prospective purchasers the chance to acquire an asset with stable cashflow.
“The leases of the tenancies vary but if all available renewals are taken up, three of the four tenants will remain in the property into the 2030s. The lease agreements offer an attractive mixture of future market reviews, CPI increases, and further rental growth mechanisms,” Palmer says.
“Given the age of the asset, this is a low-maintenance property that will be appealing for passive investors. Industrial property continues to remain a sought-after asset class among purchasers given the desirable long-term investment fundamentals.”
The Hamilton Airport precinct will soon benefit from the Hamilton Southern Links roading project that will improve accessibility.
The surrounding area has seen considerable investment in recent years with continued development, and large-scale firms have positioned themselves in this location.
Oliver, Associate Director at Colliers Hamilton, says the subject location is only 100km from Tauranga, while the centre of Hamilton is less than 15km away.
“Given the surrounding transport infrastructure, this precinct is appealing to industrial and logistics firms and will only continue to grow with more businesses establishing their presence near the airport,” Oliver says.
“Offerings like this are rarely presented to the open market.”
- Supplied by Colliers
