 Asset Class: | Industrial |
 Price: | $ 2000000 |
 Net Yield: | 7.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
19 Klondyke Drive, Hornby, Christchurch offers a secure and stable income stream with a long-term lease to Artisan Bakehouse Limited.<br><br>With an annual rental income of $140,000, the property currently delivers a 6.51% net yield based on its 2024 $2.15M valuation. <br><br>Given the potential for an OCR decrease in New Zealand on February 19, 2025, investor sentiment is shifting, and yields on quality assets are likely to compress further. <br><br>In today’s market, properties of this nature are increasingly being valued closer to a 6.25% yield, indicating strong demand for well-leased industrial assets. <br><br>With a Weighted Average Lease Term (WALT) of 7.09 years, annual CPI rent reviews, and long-term renewal options, this investment ensures predictable and growing returns.
How old is the asset?
Vendor's reason for selling?
Days property been on market?
Is this property strata titled?
Are the seller and tenant related parties?
How long has the current tenant been on site?
How long has the tenant been in business?
Is this property in a flood zone?
Is this lease a leaseback arrangement?
The locality of Hornby South comprises predominantly conventional heavy industrial buildings developed since the mid-1990s to today. There is a mixture of older and newer premises, with the wider locality subject to marked future industrial development.<br><br>There are few vacancies in this location at the current time.
Additional Location Information File
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Specialist Coolstore Market Rental Evidence Confidential, Woolston Date: 1-May-23 Transaction Type: New Lease Tenant: Confidential Premises & Analysis: Ground Floor Offices: 66.20 m² @ $140.00 per m² First Floor Offices: 64.00 m² @ $140.00 per m² Warehouse: 119.40 m² @ $87.50 per m² Food Processing: 347.10 m² @ $173.05 per m² Freezer: 50.00 m² @ $195.00 per m² Warehouse Extension: 98.00 m² @ $81.50 per m² Carparks: 4.00 spaces @ $12.50 per week 25 Izone Drive, Rolleston Date: 1-May-23 Transaction Type: New Lease Tenant: Fiordland Lobster Premises & Analysis: Reception & Offices: 200.50 m² @ $200.00 per m² Amenities & Testing: 75.70 m² @ $200.00 per m² Swim Room (6 tanks): 600.00 m² @ $210.00 per m² Freezer & Chillers: 81.00 m² @ $200.00 per m² Packing: 216.50 m² @ $145.00 per m² Storage: 138.95 m² @ $135.00 per m² Loading Bay: 270.00 m² @ $130.00 per m² Generator: 22.20 m² @ $100.00 per m² Plant Room: 97.80 m² @ $125.00 per m² Front Carparks: 19.00 spaces @ $10.00 per week Truck Parks: 9.00 spaces @ $10.00 per week Yard: 750.00 m² @ $17.90 per m² 16 Braeburn Drive, Hornby Date: 1-Nov-22 Transaction Type: Review Tenant: Lineage Limited Premises & Analysis: Offices: 110.93 m² @ $170.00 per m² Office Canopy: 89.60 m² @ $17.50 per m² Cold Storage: 5402.35 m² @ $135.00 per m² ELO: 1750.50 m² @ $100.00 per m² Plant Room: 317.07 m² @ $85.00 per m² Enclosed Canopy / Rail Siding: 848.38 m² @ $87.56 per m² Yard: 3900.00 m² @ $15.00 per m² Carparks: 16.00 spaces @ $8.00 per week
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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(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Fully Leased Industrial Space in Hornby</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">745 sqm* NLA</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Large carparking options right out in front of the building</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Industrial Heavy Zoning</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Located in the coveted Hornby Industrial Area of Christchurch. </span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">CPI and Market Reviews built into lease</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-style:normal;"><b>Net Income: $140,000p.a ($188sqm net + GST including yard and carparks)</b></span></p></li></ul><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;"> </span><span style="color:rgb(0, 0, 0);font-style:normal;"><b>Entrenched Tenant </b></span><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">– All specialised equipment has been installed on site</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;"> </span><span style="color:rgb(0, 0, 0);font-style:normal;"><b>Property in a Sought after suburb - </b></span><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Hornby is one of the most sought-after large format industrial areas in Christchurch</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;"> </span><span style="color:rgb(0, 0, 0);font-style:normal;"><b>Strategic Logistical Location -</b></span><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;"> Positioned only 2.1km from State Highway One offering easy inward and outward freight options</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-style:normal;"><b> Fee Simple landholding – </b></span><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">1,901 sqm (more or less) freehold site across a single title</span></p></li></ul>
