A compelling opportunity to acquire a substantial Industrial property with significant development potential in the heart of Upper Hutt.
On behalf of the receivership, CBRE (as Sole Agent) is pleased to present 9-15 Refreshment Place, Trentham, Upper Hutt for sale. This large-scale industrial asset comprises of a four-bay warehouse, with two levels of interconnected offices, with a total net lettable area of 9,903.2sqm (approx). These improvements sit alongside a significant yard and car parking, offering outstanding value-add potential. The property is contained within five separate allotments, providing a total land holding of 27,699sqm.
Currently zoned for mixed-use under the operative Upper Hutt City District Plan, this area can be utilised for a wide range of activities, including residential, retail and light industrial. Currently offered with vacant possession, this property provides immediate flexibility for the incoming owner to leverage a well-maintained, well-located facility. Its ‘as is where is’ basis, combined with significant refurbishments and re-developments ensures well-presented tenancies and mitigates ongoing capital expenditure costs.
With Upper Hutt recording a low industrial vacancy rate of just 3.0% as of November 2023 and ongoing improvements to regional transport infrastructure, 9-15 Refreshment Place is perfectly positioned to deliver strong returns and long-term capital growth.
For sale by negotiation. CBRE strongly recommends your early consideration of this investment or owner occupier opportunity and encourages interested parties to get in touch without delay. For further information, please contact one of the nominated Sole Agents.
