591 No 1 Road, Te Puke, Te Puke

Generous rural returns

Located in Te Puke's horticultural mecca this 1.0800 hectare investment opportunity awaits a new investor or owner/occupier. A large packing shed, coolstore, loadout yard and office spaces with ample on-site car parking, two established tenancies plus additional site development opportunity make this an excellent add-value proposition.

Features:
- Solid cash flow returning net $76,302.50 per annum plus GST and outgoings.
- Established infrastructure with a total lettable floor area of approximately 2200sqm including monitored coolstore, pre-cool room and packing shed.
- The multi-purpose packing shed with recently installed new roof encompasses a packing area and offices on the ground floor. Upstairs the 293sqm mezzanine contains a large open plan area, plus staffroom and bathroom facilities.
- Large sealed loadout area approximately 760sqm provides heavy vehicle access to tenancies adding significant utility to the complex.
- Long term, the vacant land at the rear at the property provides options for a house site. With horticultural workers in hot demand, onsite accommodation could provide a further income stream (subject to Council regulations and consent).
- Located central to a number of quality kiwifruit orchards and approximately 7.2km from Te Puke township.

The packhouse is occupied by an established anchor tenant who has recently signed a new lease for five years with rights of renewal. The coolstore complex is tenanted by EastPack under a two year lease expiring in March 2021. This provides an opportunity to offer further rights of renewal to the tenant or alternatively may suit owner occupiers in the horticultural industry.