Listing Description
Industrial Investment Opportunity - Katikati!
16 Earl Drive, Katikati, Western Bay Of Plenty, Bay Of Plenty
Asking price $949,000
Details
| Attribute | Value |
|---|---|
| Property use | Industrial |
| Viewing instructions | Please call or email, so that we can arrange a time. |
| Property ID# | JKU687 |
Description
16 Earl Drive, Katikati is a 467 m2 building on a 890m2 land parcel, originally part of the Katikati Dairy Company and accordingly has mixed stud heights (3-4+ metres). It essentially has two road frontages, one from the formal end of Earl Drive & the other from the Service Lane linking Earl Drive and Wedgewood St. Please refer to the attached site plan to better understand the land area. The total building area = 467m2
The current rental is $ 63 815.66 + GST / p.a, encompassing three separate tenancies.
The asking price of $ 949 000 (+GST, if any) represents a solid 6.72% return on investment, within an area of town where industrial lease opportunities are well sought by tenants.
This is an unusual industrial building configuration and leads itself to being redeveloped in the medium to longer term and could easily support good quality tenancies with independent access/frontages. The sale of this building effectively provides a good longer term redevelopment proposition which provides a very good holding income return - and one that should not easily be over-looked. Or simply hold and reap the return.
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