• Handy location close to Te Aroha town centre and its amenities
• Currently returning $272,064 pa plus GST & Outgoings (approx.) across three separate buildings
• Plenty of potential upside for a new owner
• Strong seismic NBS rating across the three buildings
• Mix of uses across three buildings, total floor area of 5,433sqm (approx.)
• Three individual titles issued, allowing purchasers to purchase the full site or individual lots
• Stable Tenant base with an average tenure of 14 years
• First time this property has been on the market in 20 + years
24 Lawrence Avenue comprises multiple tenancies across three separate buildings. The first title includes the Administration building, a four-level structure providing office and retail space. The second is the Workshop building, a three-level facility accommodating workshop, a full building height 30 tonne crane, and office areas. The third, known as the Lines building, is a single level, garage style premises.
See links below to view individual listings
• 73 Rewi Street, Te Aroha - Asking Price $454,000 plus GST (if any)
https://nai.harcourts.net/nz/office/nai-hamilton-commercial/listing/l40824485-73-rewi-street-te-aroha-nz-3320
• 20 Lipsey Street, Te Aroha - Asking Price $930,000 plus GST (if any)
https://nai.harcourts.net/nz/office/nai-hamilton-commercial/listing/l40824515-20-lipsey-street-te-aroha-nz-3320
• 24 Lawrence Avenue, Te Aroha - Asking Price $890,000plus GST (if any)
https://nai.harcourts.net/nz/office/nai-hamilton-commercial/listing/l40824579-24-lawrence-avenue-te-aroha-nz-3320
There is a mix of national occupiers including NZ Couriers, Powerco, Pringle Beleski & Associates and telecommunications companies with long standing agreements plus regional operators such as Matamata Piako District Council, The Carpet Doctor and Baptist Union Church.
View the Walkthrough video https://youtu.be/QVoAXAZniZ8
