 Asset Class: | Industrial |
 Price: | $ 4750000 |
 Net Yield: | 6.90 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
Located at the high-profile corner of Smart Road and Constance Street, this standalone distribution facility was constructed in 2002, featuring a clear span warehouse of 1,700 sqm with a 6-meter clearance and an additional 542 sqm of office space adding to the NLA.<br><br>In 2016, an expansion and modernisation by NZ Post, with the tenant contributing to the cost of extensions added to the size and scale of the holding. <br><br>Additional features include 11 car parks in front, main pedestrian access off Smart Road and 15 carparks on teh 18 Constance Road site.<br><br>The building is of exceptionally high quality, boasting an A+ seismic rating (>100% NBS)<br><br>18 Constance Street is occupied by Rockgas Limited. It is a 2,176 sqm site accessible from Constance Street and being part of the same package allows for a thoroughfare for larger vehicles access 2 Smart Road.<br>The leased area consists of a mixture of asphalt and metal yard with a 4-tonne LPG dispensing cylinder and small portacom. All improvements are owned by the tenant with full make-good provisions in the lease.
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Situated on the commanding corner of Smart Road and Constance Street in Taranaki’s most sought-after commercial location of Waiwhakaiho.<br><br>Historically, the area has been characterized by light to medium industrial activity, strategically positioned between the region’s largest industrial precinct of Bell Block and the New Plymouth CBD. In 2000, Harvey Norman relocated to Smart Road (positioned across the road from NZ Post). Since then, the Valley Mega Centre was developed, which is Taranaki’s largest bulk retail complex accommodating brands such as Briscoes, Noel Leeming, Rebel Sports and Chemist Warehouse. A Countdown supermarket and Mitre 10 Mega were also developed on the adjoining properties.<br><br>The Taranaki economy is driven by manufacturing and agriculture, with dairy farming and food production at its core, along with oil and gas. The region claimed the highest GDP per capita in 2020 and is now only beaten by Wellington and Auckland at $70,626.
Additional Location Information FileInitial Term:
Security:
Security Info:
TBA in DD
Offer To Purchase:
$
Initial Deposit:
$
Due Diligence:
days
Finance:
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Settlement:
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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);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Anchor Tenant - NZ Post with the added bonus of RockGas</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;">Annual Net Rental - $329,386 plus GST</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;">Two separate tenancies over a floor area of 2,334sqm (approx.) on freehold titles totaling 6,120sqm of 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-weight:normal;font-style:normal;">Slightly under rented - With NZ Post only looking for one more year there is the potential for upside if transitioned to Large Format Retail</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;">100% NBS Seismic Rating</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;">Mixed Use Zoning under the Proposed New Plymouth District Plan - Ideal for this location as this zone is predominantly characterised by larger scale, bulky buildings (such as warehouses and wholesale shops) orientated towards the motorised customer, with parking usually provided on-site. </span></p></li></ul>
