13 Wharf Street represents an opportunity to purchase a modernised industrial property leased to a well-known tenant on a long lease in the prime industrial area of Dunedin.
The property is located in an excellent position on Wharf Street (which feeds Portsmouth Drive), situated in close proximity to Andersons Bay Road. The property is located in close proximity to a number of main routes into and out of the city centre, and many well-known occupiers, including Carters, Bunnings, Mainfreight, Courier Post, Kaan's Catering, and many more. The area is a popular and tightly held location for investors.
The premises were initially leased on an 8-year lease (from 1-Feb-2021), which has now been renewed through to 31-Jan-2035, followed by further rights of renewal, with an annual net rental being received of $162,060pa plus GST.
The property underwent significant renovation in 2020/21 for the incoming tenant.
Property Highlights:
• Site area 2,886m² (more or less)
• 2GP Zoned Industrial
• Leasehold tenure
• Annual net rental of $162,060pa plus GST (approx)
• High levels of passing vehicle traffic
• Popular and established location
Offered for sale at an asking price of $2,050,000 plus GST (if any).
Contact the nominated broker for more information or to view.
