![]() Asset Class: | Industrial |
![]() Price: | $ 2060000 |
![]() Net Yield: | 7.30 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | Off Market |
72 Leet Street represents an opportunity to purchase a well leased industrial investment, tenanted by a well established trades related business, with a favourable ISA report. The property is a 1960s industrial workshop originally constructed as foundry with front offices added at a later date. The improvements are set on a 2245 sqm site located in Leet Street on the northern western fringe of the Invercargill CBD.<br><br>The improvements centre around the main high stud workshop which is located on the western side of the property. The workshop has drive through access from Leet Street to the rear yard area. The 17metre clear span workshop is fitted with a 3tonne Gantry crane. Partitioned in the south eastern corner of the workshop is showroom and managers office. The fit out was completed circa 2010s and features internal glazing to the workshop.<br><br>Adjacent to the showroom is a staff smoko room with Formica benchtop kitchenette fitted inside a former chiller. The staff office and amenities are located within the original front office extension. The area provides a series of partitioned offices, a second kitchen and staff ablutions.<br><br>The foundry building is the lower stud workshop which is laid out with two work areas, front office, storage area and additional ablutions. There is a a 2tonne gantry crane with one of the workshop areas.<br><br><br><b>Construction:</b><br>Foundation - Concrete<br>Flooring - Concrete<br>Exterior walls - Concrete, Corrugated steel<br>Framing - RSJ, steel, timber, concrete block, brick<br>Roofing - Corrugated steel, corrugated plastic<br>Joinery - Aluminium, timber<br>Internal linings - Mixed materials<br>Ceilings - Mixed materials<br>Services - Electric entrance door
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?
The subject property is located off the north side of Leet Street between Kelvin Street to the west and Deveron Street to the east, on the northern fringe of the Invercargill CBD. The property has a secondary access from Kelvin Street. <br><br>Surrounding development includes light industrial and commercial activities with buildings of mixed age and construction along with residential to the north east.
Additional Location Information FileThe concept of “Continuous” is smart, yet simple. Make the product on site, avoiding sectional joins, and this, teamed with our expert installation, will result in a tailor-made rainwater system just for your place<br><br>Founding Directors, Richard Mabin & Ian McQuarrie had a gut feeling when they launched “Continuous Spouting” back in 1991, that they had a real point-of-difference to offer Kiwis. This, combined with positive feedback from our customers, paved the way for what is today New Zealand’s leading rainwater solutions company.<br><br>This success has never gone to our heads though…... No, it’s our down-to-earth, hands-on approach that sets us apart and from this we’ve built a reputation for getting stuck in and getting the job done right.<br><br>At Continuous we’ve moved on from the “one product fits all” approach, and offer the largest range of “Continuous” profiles and colours. You’ll soon discover too that there is a wealth of knowledge and experience to tap into amongst our talented team of directors, installers and support staff. In saying this, it will therefore come as no surprise that our products are installed on more award-winning homes than any other. We attract a diverse range of customers - from homeowners and one-man builders through to National building companies.<br><br>We believe that our customers get the best value for money through providing the right solution on every Kiwi home. This way our customers actually get better results and they tell us this every day.<br><br>Come and have a yarn with us and tell us all about <b>your place</b>… You’ll be pleasantly surprised to find a friendly bunch who are genuinely passionate about what we do and take great pride in getting the job <b>done right.</b>
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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;">Site area - 2,245 sqm (more or less)</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;">Floor Area - 1,463 sqm</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;">Leased to - Continuous Spouting South Limited</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;">Current net rental of $150,000 + GST & OPEX</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;">RoW Access to Gala Street</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;">The premises comprises high stud workshop, offices, showroom, amenities, yarding </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;">Freehold tenure</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;">ISA by GM Designs (March 2025) showing Main Building achieves 124% NBS & Secondary Building achieves 95% NBS.</span></p></li></ul>