Set on a generous 1,590m² freehold section with a substantial 340m² floor area, this property offers versatility and long-term security.
The building is currently tenanted with two established businesses on long-term leases, providing immediate income and peace of mind for investors.
The high-stud workshop, mezzanine offices, and multiple work zones ensure ongoing appeal to quality tenants, while the large yard provides versatility for future growth.
Positioned on Omahu Road in Hawke’s Bay’s thriving industrial hub, this is a rare opportunity to secure a hands-off investment with proven returns.
Tenants
1 Omahu Bakery Net Rental: $45,000 pa Term: 10 years from 13/01/25 ROR: 2 x 5 years Rent Review: Market every 7 years from 1 April 2025, CPI every 3 years from 1 April 2025
2 Arctic Coolstore Construction Ltd Net Rental: $32,500 pa Term: 5 years from 2/9/2024 ROR: 2 x 5 years Rent Review: To market on renewals, CPI every 2 years
Contact Ian McLachlan to view.
Features:
* Sort after location with high traffic flow
* Net Rental of $77,500 pa
* Entrances on Meihana Place & Omahu Road
* Two long term leases with secure tenants
* Earthquake rating, 70% NBS
* Room for future redevelopment
