Rethink Investing

Industrial | 52 Essex Street Phillipstown 8011 New Zealand

Key Information

Asset Class:	Industrial

Price:	$ 2693046
Net Yield:	6.50 %
Net Yield - including solar strategy:	%
Property Market Status:	On Market

Introduction

Introducing an exceptional commercial opportunity at 52 Essex Street, Phillipstown, Christchurch. Nestled on the fringe of the Christchurch CBD, this standout asset spans a generous land area of 2,681 square meters, with a substantial 1,260 square meters of floor space across two levels, including a warehouse and office areas. 52 Essex Street benefits from its prime positioning in Phillipstown, a suburb experiencing revitalisation, just a short distance from the city center, offering a blend of industrial functionality and urban accessibility. The ground floor boasts practical amenities, including a lunch room and four partitioned offices, while the first floor provides sunny, open-plan office space, catering to a range of operational needs. The property is leased to a well known company- New Zealand Brush Company Limited, who have 6 years remaining on their current lease term with two further rights of renewal. Recent significant refurbishments speak for themselves, the property presents very well. Featuring a freehold title and strengthened to above 67% NBS (New Building Standard), the property offers a modern warehouse accessible via two container-high roller doors, a concrete hardstand for container set-down and 22 on-site car parks for ample parking convenience. Construction Details: Foundations - Concrete perimeter foundation Floor - Concrete floor and timber to the first floor External Walls - Generally concrete tilt slabs with metal tray above the dado and some timber to the office/amenity block Roof - Metal profile Internal Finishes - Plasterboard lined partitioning to the office accommodation, with some timber plank flooring, carpet, and vinyl floor coverings Joinery - Predominantly aluminum and timber external window joinery NLA Breakdown: <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);">G - Office & Amenities 155.50 m²</li><li style="list-style-image:none;color:rgb(51, 51, 51);">LI - Office & Amenities 136.70 m²</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Warehouse 909.66 m²</li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;">Warehouse Office 8.98m²</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Warehouse Store 8.26 m²</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Cool Room/Store 75.52 m²</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Car Parking (excluded from NLA) 26 spaces</li><li style="list-style-image:none;color:rgb(51, 51, 51);">TOTAL 1294.62 m²</li></ul>

Background Information

How old is the asset?

Built in 1983 with a warehouse addition in the year 2000

Vendor's reason for selling?

Cashing Out

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?

Since April 2022

How long has the tenant been in business?

138

Years

Is this property in a flood zone?

Is this lease a leaseback arrangement?

Additional Information File

Location on Map

Phillipstown is an established commercial area offering a mix of small, medium and large scale offices, showrooms, warehouses, and light industrial manufacturing activities. Over the past decade, inner city gentrification has led to an increase in infill housing and the rise of townhouse-style residential apartment blocks. This property benefits from excellent access to major traffic arteries, with nearby Fitzgerald Avenue forming the eastern boundary of the central city. This location provides easy access to the main routes of Moorhouse Avenue/Ferry Road to the south and Bealey Avenue to the north. Situated just a short distance to the west is the Christchurch CBD and the Te Kaha Multi-Use Arena, which is currently under construction.

Additional Location Information File

Tenant Information

The New Zealand Brush Company has been manufacturing and supplying brooms and brushes in New Zealand since 1886. Proudly 100% New Zealand owned and operated, we combine old-fashioned brushmaking tradition with modern innovation and manufacturing processes. This allows us to take advantage of technological advances to streamline our business and enhance our products whilst continuing to focus on how it all began – a New Zealand story of enterprise forged over a handshake, quality workmanship, and integrity. Quality & Service that is second-to-none For 125 years we’ve inherited and built upon the skills of our early pioneer, Alfred Carter Broad, developing a reputation for quality and service that is second-to-none. Our customers recognise our products for their quality craftsmanship and product engineering, and so do we - standing behind every single item with a 100% money back guarantee. We continue to grow our business by providing full product satisfaction to our customers - our team are incredibly responsive and believe in making things easy for our customers. Most importantly, if we get shown up, we show up!

Additional Tenant Information File

Financial Overview

Initial Term:

Security:

Security Info:

Additional Financial Information File

Special Conditions (if any)

Initial Term:

Security:

Security Info:

Rental Comparison

Offer To Purchase

Offer To Purchase:

2693046

Initial Deposit:

269304

Due Diligence:

days

Finance:

days

Settlement:

days

Download Write Up PDF

View Your Estimated Rental Yield

Disclaimer: The depreciation figures provided are based on specific circumstances and may not accurately reflect your current financial situation. These figures are intended for informational purposes only and should not be construed as financial or tax advice. Individual financial situations can vary widely, and the applicability of these figures to your personal circumstances may differ. It is strongly recommended that you consult with your usual taxation adviser or a qualified financial professional/accountant to verify this information and obtain personalised advice tailored to your specific financial situation. Neither the provider of this information nor any of its affiliates shall be held liable for any decisions made based on this information without proper consultation with a professional adviser.

Key Highlights

<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);">Prime location near Christchurch CBD</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Generous 2,681 sqm land and 1,260 sqm floor space</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Secure lease with New Zealand Brush Company Limited</li><li style="list-style-image:none;color:rgb(51, 51, 51);">$175,048 Net + GST & OPEX</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Recently refurbished with modern upgrades</li><li style="list-style-image:none;">Freehold Title</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Strengthened to above 67% NBS </li><li style="list-style-image:none;color:rgb(51, 51, 51);">Modern warehouse with two container-high roller doors</li><li style="list-style-image:none;color:rgb(51, 51, 51);">26 on-site car parks for ample convenience</li><li style="list-style-image:none;color:rgb(51, 51, 51);">Industrial General Zoning</li></ul>

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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?

Initial Term:

Security:

Security Info:

Initial Term:

Security:

Security Info:

Offer To Purchase:

Initial Deposit:

Due Diligence:

Finance:

Settlement:

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