Secure a well-positioned commercial investment on the fringe of the CBD, offering diversified income and proven tenant appeal. Comprising three functional workshop units with a consistent return profile, this property represents a compelling opportunity for investors seeking a stable, multi-tenanted asset with enduring demand.
Key Highlights:
• Split risk across three established tenancies returning $75,646 net per annum + GST
• Leasehold interest with 20-year ground lease to Whangarei District Council (from 1 March 2025)
• 652sqm floor area on 653sqm land, configured as three highly leasable workshop units
• Strategic CBD fringe location with waterfront zoning and strong tenant demand
This well-configured leasehold investment combines practical design with income resilience and broad tenant appeal. The property comprises three separate workshop tenancies across a 652sqm building on a 653sqm site, suited to a wide range of commercial activities.
Each unit features roller door access fronting Herekino Street, providing strong exposure and ease of operation. One tenancy also benefits from additional rear roller door access via a service lane, enhancing flexibility for occupiers. The efficient layout and desirable fringe CBD positioning support ongoing tenant demand and occupancy.
With a total return of $75,646 net per annum + GST, the property delivers a reliable income stream underpinned by multiple tenancies. The long-term ground lease to Whangarei District Council (commencing 1 March 2025), with structured review provisions, offers investors clarity and certainty of tenure.
If you have any questions or would like to arrange a viewing, please contact the sole agents.
Daniel Sloper
021 022 10339
[email protected]
Nigel Ingham
021 562 919
[email protected]
