 Asset Class: | Industrial |
 Price: | $ 2000000 |
 Net Yield: | 6.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
273 Mount Smart Road is a strategically positioned site located along Onehunga/Te Papapa’s main thoroughfare. <br><br>Nestled in amongst a thriving residential catchment and public transport links this investment opportunity is one not to be missed. The building has the benefit of being split into multiple tenancies reducing future vacancy risk and maximising cash flow security. <br><br>The high-profile nature of the site will help maintain it’s attractiveness to a wide array of business users. The existing lease in place has built in market reviews and CPI increases allowing sustained rental growth throughout their tenure.<br><br>In a flood plain but historical no known floods, with the exception of 2023 Auckland Anniversary Weekend floods. However, this is considered due to the council system, as since then the council has repaired their network and there has been no further floods including through cyclone Gabriel and Cyclone Tam. Further, we have considered the insurance which is usually the reason for avoiding flood plain areas, all insurance appears to be at market price with no exclusions.
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The Central Auckland suburbs of Onehunga, Penrose and Mount Wellington are the most highly sought after industrial locations in Auckland, the area is renowned for being within 14kms of both the CBD and Auckland International Airport making them well suited to both manufacturing and freight/distribution businesses. <br><br>The central industrial belt is also in close proximity to a number of residential areas home to a large labour force as well as being in close proximity to Sylvia Park. Onehunga and Penrose in particular have brilliant access to both SH1 & SH20 via their main arterial routes of Neilson Street, Church Street & Great South Road and have benefited from the recently completed Waterview connection increasing their accessibility to key West Auckland suburbs.<br>
Additional Location Information File<span style="color:rgb(25, 25, 25);"><b><i>SKYCARS REPAIR LTD</i></b></span><span style="color:rgb(25, 25, 25);"> is conveniently located at 273 Mt Smart Rd Onehunga.</span><br><br><span style="color:rgb(25, 25, 25);">We are an ENEOS authorised workshop that keeps the quality of our service high.</span><br><br><span style="color:rgb(25, 25, 25);">We specialise in the service and repair of all European/ Japanese brands from classic to the very latest models.</span><br><br><p style=""><span style="color:rgb(25, 25, 25);"><b>Our Workshop:</b></span></p><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;margin-inline-start:0px;color:rgb(25, 25, 25);"><p style="display:inline;"><span style="color:rgb(25, 25, 25);padding-left:20px;font-weight:normal;font-style:normal;">3 years in Operation</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(25, 25, 25);"><p style="display:inline;"><span style="color:rgb(25, 25, 25);padding-left:20px;font-weight:normal;font-style:normal;">3 work bays</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(25, 25, 25);"><p style="display:inline;"><span style="color:rgb(25, 25, 25);padding-left:20px;font-weight:normal;font-style:normal;">MTA Approved</span></p></li></ul><br><p style=""><span style="color:rgb(25, 25, 25);"><b>Specialities:</b></span></p><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;margin-inline-start:0px;color:rgb(25, 25, 25);"><p style="display:inline;"><span style="color:rgb(25, 25, 25);padding-left:20px;font-weight:normal;font-style:normal;">Japanese Vehicles</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(25, 25, 25);"><p style="display:inline;"><span style="color:rgb(25, 25, 25);padding-left:20px;font-weight:normal;font-style:normal;">European Vehicles</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(25, 25, 25);"><p style="display:inline;"><span style="color:rgb(25, 25, 25);padding-left:20px;font-weight:normal;font-style:normal;">Diesel Vehicles</span></p></li></ul><br><p style=""><span style="color:rgb(25, 25, 25);"><b>Recent Reviews:</b></span></p><p style=""><span style="color:rgb(254, 203, 10);">5.0</span><span style="color:rgb(25, 25, 25);"> stars from 11 reviews</span></p><p style=" padding-left:0px;"><span style="color:rgb(25, 25, 25);">Excellent</span></p><p style="background-color:rgb(233, 236, 239);display:flex;padding-left:0px;"><br></p><p style=" padding-left:30px;"><span style="color:rgb(25, 25, 25);">100%</span></p>
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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;">Split-Risk Investment (Two tenancies across three separate units)</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;">All 3 units fully tenanted</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;">Sale and Leaseback on Unit A</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;">813 sqm Freehold Title</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;">High profile site & signage opportunities</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;">Access to thriving residential catchment</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;">Tenancies all a highly desirable size</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;">Returning $119,496 Net + GST & OPEX ($204 / sqm)</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;">Uplift likely at Nov 2026 review for Units B & C. A recent rental appraisal showed a market value to be $75,753 on the low side and $79,821 on the high side vs $69,496 presently.</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;">Net Yield of 6% </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;">Tenant owned spraybooth in Unit C - Building consent was required for installation which would make shifting premises a challenge </span></p></li></ul>
