This is a standout passive industrial investment, anchored by the sole VTNZ operation in Rotorua. The property provides comprehensive WOF and COF testing for both light and heavy vehicles, complemented by modern offices, customer waiting areas, and generous on-site parking.
Extensively upgraded to meet tenant requirements, the premises have benefited from significant capital improvements, including re-roofing the office areas as well as enhancing office and customer amenities. These works are being repaid via an amortised structure through to September 2027, in addition to the current rental income.
The long-standing tenant entered into the current lease agreement in 2014, with a secure lease now extended through to 30 September 2030, plus two further rights of renewal. The property currently delivers a strong net return of $175,000 + GST per annum, plus the additional monthly loan repayments.
Positioned on a substantial landholding across three titles, the property enjoys dual access with drive-through capability between Marguerita Street and White Street. Located in the highly sought-after Fenton Park precinct, the area is a well-established hub for light industrial and trade retail activity, with neighbouring occupiers including PGG Wrightson, Farmlands, and TWL.
Call Mark for more information and to view.
Features:
* Current net rental $175,000 + GST
* Committed, long-term tenant
* Great passive investment
