1/37 Manuka Street, Tauhara, Taupo, Waikato

For sale is 1/ 37 Manuka Street, an industrial property in Taupo's Tauhara industrial zone. The property is leased to Hog Haulage Limited, who have in turn sub-leased part of the property to international logistics company Team Global Express (TGE). 1/37 Manuka Street in total comprises a 6,334sqm property adjacent to the rear boundaries of 39-43 Manuka Street and the Taupo District Council owned Taupo Motor Cross park, which adjoins the eastern boundary.

The building is comprised of a c.800 sqm warehouse, including c.30 sqm of upstairs offices and staff amenities, plus an attached, c.105 sqm storage unit. The main building is accessed via 4 roller doors; 2 x 4400H x 4000W, and 2 x 4000H x 3700W. The roller door into the adjacent unit is 3500H x 3500W. The property is currently being used as a logistics and transport hub.

The lease commenced on 1 January 2022 and has final expiry date of 31 December 2036. The initial term runs for 5 years with two 5-year rights of renewal, the first being on 1 January 2027. The lease contains a right, from 1 January 2027, for the owner to terminate the lease by giving 3-months' notice in the event they wish to redevelop the property.

Key features:

• c.6,334 sqm site
• c.905 sqm warehouse | workshop | offices
• c.$152,750 current net annual rental
• CPI + 2% annual rental increases
• Tenant - Hog Haulage Limited

For detailed information, call Hugh Milloy on 021 901 390.