 Asset Class: | Industrial |
 Price: | $ 5340000 |
 Net Yield: | 7.50 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Pre Market |
We are pleased to present an exceptional investment opportunity at 100 Hilton Highway, Washdyke. A prime industrial strategically located with dual access via Hilton Highway and Old North Road. This large-format workshop and office building, set across two titles, boasts an extensive yard area, making it ideal for tenants handling large-scale equipment such as Giltrap Ag. With three driveways ensuring seamless access, a 40m streetfront visible from the main road, and excellent truck flow around the back, the property is perfectly positioned for operational efficiency and customer convenience, complemented by ample parking.<br><br>Originally constructed in 1969, the building has undergone significant upgrades, including first-floor office additions and renovations in 1995, expansions in 2003 with a new staff cafeteria and ablutions, further enhancements in 2007, and a newly completed 1,037 sqm workshop and 57 sqm canopy at the rear. With only 47% site coverage, this property offers substantial potential for future development in a thriving industrial precinct. <br><br>The rent, based on a 2023 Market Valuation, (prior to the completion of the new workshop and canopy) does not accurately reflect the past two years of local rental growth. Alongside the fixed 2.5% annual increases we expect strong uplift at the first market review bring the rental back up to a market rate. <br><br>With limited time before the property hits the open market, this is a rare opportunity for investors seeking a high-performing asset with significant value-add potential.
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<span style="color:rgb(0, 7, 89);">Washdyke is a great location in central South Island, with the Port of Timaru minutes away and easy access north or south on SH1. </span><br><br><span style="color:rgb(0, 7, 89);">With SH8 at your gate for access to the growing areas of Tekapo, Twizel and Central Otago. Locally there are many other service businesses and factories operating in the area.</span>
Additional Location Information File<b>About us</b><br>For more than 65 years Giltrap Ag has been finding new ways to make farmers’ lives easier, and with the acquisition of Clough Agriculture in 2018, our commitment to innovation in agricultural manufacturing is stronger than ever.<br><br>Our design process starts by listening to farmers: what’s working well, and what could be improved? Is there a new way to face an old challenge? Or an old way to face a new one? Farmers answers get us thinking, then these insights develop into design concepts. Prototypes of a new design begin to take shape and they’re refined by testing in the field, to see how theory holds up in practice. In addition to being smart, any innovation has to be pragmatic and dependable also.
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12 Laughton Street (Hazeru Ltd, lease from 1 March 2022, 5 years, $135,000 rent): Storage: 1205 m² @ $85/m² Canopy: 20 m² @ $50/m² Offices: 154 m² @ $160/m² Carparks: 13 parks @ $10/week 73 Elginshire Street (Caledonia Ltd, lease from 1 October 2021, $77,376 rent): Storage: 816 m² @ $76/m² Offices: 128 m² @ $120/m² 110 Fraser Street, Port of Timaru (Hampidjan Ltd, lease from November 2020, 15 years, $119,000 rent): Gross area: 780 m² @ $152.56 / sqm
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;font-weight:normal;">Land Area: Total -11,891 sqm (more or less) 100 Hilton Highway - 7,853 sqm, Old North Road Site - 4,038 sqm (Bare Land)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;font-weight:normal;">Building NLA -3,977 sqm - 100 Hilton Highway Site </span></p></li><ul style="list-style-type:circle;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Workshops - 2,692 sqm</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Offices - 575 sqm</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Front Reception and Parts Store - 394 sqm</span></p></li></ul><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Zoning - Industrial Light</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Title - Fee Simple (Freehold) - Both Properties</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">High Yielding - 7.5% at Rethink Negotiated Price</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Potential Under Rented - Value Add Opportunity</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Only 47% Site Coverage - Allowing for easy future expansion</span></p></li></ul><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Proposed Lease Agreement - 10 Years</b></span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Proposed Rental - $400,500 Net + GST & OPEX</b></span></p></li></ul><br><p style=""><span style="color:rgb(51, 51, 51);font-style:normal;"><b>This is an Industrial to set and forget!</b></span></p>
