 Asset Class: | Industrial |
 Price: | $ 2079233 |
 Net Yield: | 6.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Pre Market |
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?
Location<br>• Glendene is separated from the<br>Rosebank industrial district by the<br>Whau River.<br>• Bancroft Crescent is part of the heavy<br>industrial precinct in Glendene, West<br>Auckland. The road extends from and<br>returns to Akatea Road.<br><br>Land Use<br>• Nearby developments include freehold<br>and strata title industrial properties<br>with businesses such as car<br>repair/maintenance and construction<br>suppliers.<br><br>Proximity<br>• The property is approximately 5.5km<br>from the central Henderson and New<br>Lynn commercial districts.<br>• Auckland CBD is approximately 17.5km<br>to the east via the Northwestern<br>Motorway
Additional Location Information FileInitial Term:
Security:
Security Info:
Lease Transactions Data Address: 2/24 Hobill Avenue Suburb: Wiri Transaction Date: 20/03/2024 Sale/Lease: Lease Building Size: 333 sqm Sale/Lease Price: $75,000 Rate per sqm: $225.23 Address: 8/17 Airpark Drive Suburb: Mangere Transaction Date: 31/07/2024 Sale/Lease: Lease Building Size: 380 sqm Sale/Lease Price: $74,000 Rate per sqm: $194.74 Address: 4/22 Andrew Baxter Drive Suburb: Mangere Transaction Date: 14/08/2024 Sale/Lease: Lease Building Size: 290 sqm Sale/Lease Price: $66,000 Rate per sqm: $227.59 Address: 2/9 Chonny Cres Suburb: Wiri Transaction Date: 25/08/2024 Sale/Lease: Lease Building Size: 240 sqm Sale/Lease Price: $50,925 Rate per sqm: $212.19 Address: 11/9 Chonny Crescent Suburb: Wiri Transaction Date: 11/09/2024 Sale/Lease: Lease Building Size: 240 sqm Sale/Lease Price: $50,925 Rate per sqm: $212.19 Address: 55B Druces Road Suburb: Wiri Transaction Date: 01/02/2025 Sale/Lease: Lease Building Size: 225 sqm Sale/Lease Price: $48,000 Rate per sqm: $213.33 Address: 55C Druces Road Suburb: Wiri Transaction Date: 05/02/2025 Sale/Lease: Lease Building Size: 269 sqm Sale/Lease Price: $70,000 Rate per sqm: $260.22
Offer To Purchase:
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Initial Deposit:
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Due Diligence:
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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(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">Total Floor Area: 652.40sqm</span></p></li><li style="list-style-image:none;margin-inline-start:0px;"><p style="display:inline;"><span style="color:rgb(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">Land Area: 1481sqm corner site</span></p></li><li style="list-style-image:none;margin-inline-start:0px;"><p style="display:inline;"><span style="color:rgb(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">1980s construction</span></p></li><li style="list-style-image:none;margin-inline-start:0px;"><p style="display:inline;"><span style="color:rgb(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">Returning $124,754.50 net pa</span></p></li><li style="list-style-image:none;margin-inline-start:0px;"><p style="display:inline;"><span style="color:rgb(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">Split risk across Five tenancies</span></p></li><li style="list-style-image:none;margin-inline-start:0px;"><p style="display:inline;"><span style="color:rgb(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">Resource consent granted in 2020 for 5 adding extra units to the complex</span></p></li><li style="list-style-image:none;margin-inline-start:0px;"><p style="display:inline;"><span style="color:rgb(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">Rare freehold industrial land and building package (currently the light industry minimum subdivision size is 2000sqm)</span></p></li><li style="list-style-image:none;margin-inline-start:0px;"><p style="display:inline;"><span style="color:rgb(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">Fixed rental growth across all tenancies ranging between 2.5% & 3.5%</span></p></li><li style="list-style-image:none;margin-inline-start:0px;"><p style="display:inline;"><span style="color:rgb(36, 36, 36);font-style:inherit;font-weight:normal;padding-left:0px;">Refurbished asset – internal paint, LED Lighting, new roller doors, new roof (2021)</span></p></li></ul>
