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
| Attribute | Value |
|---|---|
| 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.
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