28 Artillery Place, Richmond, Tasman, Nelson / Tasman

  Asking Price $3.35m +GST (if any)   A rare combination of secured lease income and genuine development upside in Richmond's premier industrial precinct.   This near-new freehold asset offers investors and owner-occupiers a foothold in one of the top of the south's strongest growth corridors with the flexibility to hold for income, develop for capital growth, or both.   Purpose-built in 2020, the 552 sqm warehouse is leased to The Concrete Company at $124,000 p.a. +GST with market rent reviews every two years and a final lease expiry out to 2040. A second tenant, Isaac Construction, occupies the front yard on a renewed term. Two quality construction-sector tenants delivering immediate cashflow from day one.   Only 40% of the 5,407 sqm freehold site is developed. The balance is a prime road-frontage parcel of approximately 3,400 sqm with roughly 40m of street and two road crossings already in place for heavy vehicle circulation. Hold it as a leased yard or develop Stage 2 to unlock significant capital growth in a precinct demonstrating consistent growth and demand.   Key features:

• 5,407 sqm freehold industrial zoned land
• 552 sqm warehouse | Built 2020
• $124,000 p.a. +GST secured rental | Market reviews every 2 years | Final lease expiry 2040
• 3,400 sqm undeveloped road frontage | Yard income or development upside
• Heavy vehicle access ready
• Suits passive investors, owner-occupiers, or add-value developers

Information Memorandum and Due Diligence available on request.     Enquiries to:

Brad Allam 

Geoff Faulkner 

• land and floor area are approx. only

More information: https://www.colliers.co.nz/p-NZL67040441