11 Trig Road, Waihi, Hauraki

Expect a generous provincial yield

•Coolstore complex to suit passive investors and/or part owner occupier
•Anchor coolstore tenant Seeka Ltd returning $131,250 +GST net pa
•Former packhouse with 5 monthly tenancies plus vacant space
•Flat site with dual driveway access plus extensive hardstand area
•Current total annual net rental income approximately $161,309 +GST & Opex

The property comprises a rural zoned area of land within very close proximity to the intersection of Trig Road South and State Highway 2, just south of Waihi township. The property provides a long established horticultural post-harvest facility including coolstores, canopy areas with full drive through access for B-Trains, former packing shed facilities and a standalone office.

The coolstores are leased to Seeka Ltd who commenced a 3-year lease on 1st October 2019 at an annual net rental of $131,250+GST and includes 3 further 3-year rights of renewal. The coolstore facility includes three separate storerooms with an approximate 320,000 tray capacity and meets the standards required by Zespri for the handling of class 1 kiwifruit for export.

The balance of the buildings previously utlised as a pack house and office are partly rented on a month to month basis to 5 tenants providing owner occupier options or alternatively additional income streams in the short term.

The property offers an excelled opportunity for investors to capitalise on the booming kiwifruit sector where there is a significant coolstore shortage and enjoy the impressive lease income from anchor tenant Seeka plus add further value to the packhouse premises.