 Asset Class: | Industrial |
 Price: | $ 2333333 |
 Net Yield: | 7.50 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
The property comprises a level regular shaped site with a factory building positioned to the north west<br>boundary. A driveway runs down the south east boundary providing access to a small yard to the rear.<br><br>The building has a steel portal frame with concrete block infill walls and long run steel roof with sisalation foil<br>on timber purlins with intermittent skylights. There is one row of internal columns (7). The stud height is<br>approximately 4.6m at the knee rising to 5.9m at roof apex.<br><br>An office amenity block runs along the south east (driveway) side of the building and features a staff<br>lunchroom, male and female bathrooms, laundry, storage and coms room with a reception area to the front.<br>The first floor is connected to the ground with 2 stairways and has a large open plan office to the rear, a board<br>room with kitchenette in the middle and another open plan office area at the front.<br><br>The office amenity block has acoustic treatment to the partition separating it from the factory and double<br>glazed acoustic safety glass viewing to the factory and aluminium framed single glazing to the south east and<br>north east external walls (with blinds). The front blockwork has been architecturally treated with titanboard<br>negative detailed panels. <br><br>Flooring is vinyl to service areas and direct stick broadloom carpet to office areas.<br>Services include a CCTV system; heat and smoke detectors; emergency lighting; kitchen to staffroom has a<br>stainless steel sink bench, rangehood, dishwasher and instant hot water system; 3 phase power; security alarm<br>(2 zones); LED lighting to factory and office /amenity areas, front roller door motorised 6.0m(w) x 4.4m (h) and a<br>rear roller door 4.0m(w) x 4.4m(h) also motorised; 6 x wall mounted heat pumps; a safe is built into the particle<br>board mezzanine floor within the open plan office area; the boardroom is serviced with a small kitchenette unit<br>to the corner with formica benchtop and stainless steel sink and drainer; TV aerial to the roof cabled back to<br>the coms room.<br><br>The driveway and rear yard is sealed with asphalt and the rear boundary is fenced with post and rail supporting<br>steel panels. The neighbouring property (7) also has a right of access down the driveway to their rear yard.
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?
Nicolaus Street is located in the popular area of Trentham, Upper Hutt. With its close proximity to SH2 and public transport links, the area is wellsuited for industrial businesses, with the likes of Agricontracts, Vertical Horizons and Wright Kitchens all calling Nicolaus Street home.<br><br>Located less than 4 minutes from SH2, 5 minutes from Upper Hutt CBD, 10 minutes from the SH58 interchange, and 20 minutes from Petone, Gracefield, and Seaview, this site offers exceptional accessibility, making it ideal for businesses looking to service these key areas.<br><br>The property is zoned Business Industrial under the operative Upper Hutt District Plan. This zone allows warehousing and manufacturing as permitted uses, as well as some retail activities such as the sale of boats and caravans, garden centres, and other complementary businesses. This zoning provides flexibility for a wide range of industrial and commercial operations, further enhancing the appeal of the location for businesses seeking a strategic base in the region.
Additional Location Information File
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(101, 96, 93);padding-left:8px;margin-inline-start:12px;font-weight:normal;font-style:normal;">Long established tenant</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(101, 96, 93);padding-left:8px;margin-inline-start:12px;font-weight:normal;font-style:normal;">Very well cared for building with no obvious deferred maintenance</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(101, 96, 93);padding-left:8px;margin-inline-start:12px;font-weight:normal;font-style:normal;">Popular industrial street close to SH2 and the town centre</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(101, 96, 93);padding-left:8px;margin-inline-start:12px;font-weight:normal;font-style:normal;">Well appointed for both manufacturing and warehousing</span></p></li><li style="list-style-image:none;color:rgb(101, 96, 93);"><p style="display:inline;"><span style="color:rgb(101, 96, 93);padding-left:8px;margin-inline-start:12px;font-weight:normal;font-style:normal;">Net lettable Area 1,230m² (more or less)</span></p></li><li style="list-style-image:none;color:rgb(101, 96, 93);"><p style="display:inline;"><span style="color:rgb(101, 96, 93);padding-left:8px;margin-inline-start:12px;font-weight:normal;font-style:normal;">Land Area 1,576m²</span></p></li><li style="list-style-image:none;color:rgb(101, 96, 93);"><p style="display:inline;"><span style="color:rgb(101, 96, 93);padding-left:8px;margin-inline-start:12px;font-weight:normal;font-style:normal;">Tenure: Freeh</span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">old - Legal Description: Lot 10 Deposited Plan 26820, WN7B/624</span></p></li><li style="list-style-image:none;color:rgb(101, 96, 93);"><p style="display:inline;"><span style="color:rgb(101, 96, 93);padding-left:8px;margin-inline-start:12px;font-weight:normal;font-style:normal;">Local Authority: Upper Hutt City Council - Zoning: Mixed Use</span></p></li></ul><br><b>Net Lease: </b>The property is being offered with a proposed 3 year lease term and a net<br>rent of $175,000 +GST, the commencement of which shall be the settlement of the<br>sale of the property<br><br><b>Achitecturally Well Presented: </b><span style="font-weight:normal;">The building has been well maintained and upgraded both internally</span><br><span style="font-weight:normal;">and externally offering a well presented addition to your portfolio.</span><br><br><b>Drive Through Practicality:</b> Front and rear roller doors and a side drive way make the building<br>well suited to the flow of manufacturing tenants.<br><br><span style="color:rgb(51, 51, 51);"><b>Seismic Peace of Mind:</b></span><span style="color:rgb(51, 51, 51);"> The vendor has submitted a building consent for the seismic upgrade of the</span><br><span style="color:rgb(51, 51, 51);">property with the intention of bringing the rating to 100% NBS prior to settlement.</span>
