Located in Napier's main industrial area of Onekawa, this property offers an investor a diversified income stream with historically low vacancy levels and plenty of upside. Comprising three separate areas - leased offices, older leased workshops and yard space, and newer high stud leased workshops building.
This property occupies a large freehold landholding of 6121m2 (approx.), with possible option of being subdivided into three titles which the vendors are prepared to do to enable tenderers to purchase individual titles or the total site.
There are multiple aspects to this property with opportunity to add future value for a purchaser. Featuring two well-appointed offices with carparking at the entrance from Niven Street, the site’s large rear area comprises older workshops with medium stud height partitioned into five tenancies, three of which are in good condition and have mezzanine floors, bathrooms and showers plus a rear canopy and yard tenancy.
The newer building consists of five purpose-built, high roller door workshop units with mezzanine floors, full bathrooms and kitchenette facilities. There is ample yard space between the units for parking and vehicle manoeuvering.
There are 13 Tenancies plus 6 leased containers and container spaces all fully let. Tenders can be for the total property as one lot or individually any of the three titles after vendor subdivision - two office buildings, older workshops and yard space, or block of newer high stud purpose-built workshops. Full subdivision plans are available.
Vendor may consider tenders with a smaller property trade component and may also make vendor finance available. Rateable Value $4,810,000 (Oct 2023).
This property will be a wonderful addition to any commercial property portfolio.
Viewing strictly by appointment with an agent only.
Contact the agents to discuss and for the Information Memorandum including full property and lease valuations.
