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Listing Description

Listed: Fri, 9 Feb

Triple treat

428 Main North Road, Bay View, Napier, Hawke's Bay

To be sold by deadline sale (by 8 Mar)

Details

  •   320m² Floor
  •   1980m² Land
AttributeValue
Property use
Industrial
Agency reference
2853482

Description

  • Three income streams - two commercial and one residential
  • Waitomo Fuel provide 60% of rent on long-term lease
  • Profile site on busy State Highway 2
  • Modern high specification pump and tank infrastructure This property is located in a strategic position just north of Napier in proximity to Hawke's Bay Airport and the State highway 2 turn-off to Taupo. It is ideally placed to take advantage of the significant government-funded roading recovery programme, mainly focused north of Napier. Principal tenant Waitomo Fuel has a 25-year lease term (including renewals) and favorable CPI and market rent reviews. In addition there is an industrial workshop and four-bedroom dwelling which have potential rental upside. The property can be purchased purely as an investment or could provide a home and income. All the pump and fuel infrastructure has been installed by the tenant at significant expense and a large portion of the land has been improved with concrete hard stand.

Map





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Agent's details

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Bayleys Havelock North, (Licensed: REAA 2008)

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