157 Ngaumutawa Road, Masterton, Masterton

Prime real estate investment

•Freehold investment leased to 2021 with rights of renewal to 2027
•Net rental of $80,700pa + GST
•Modern specialized use property constructed 2009
•Established national tenant in occupation for over a decade

157 Ngaumutawa Road is an impressive, purpose built Vehicle Testing Station. In terms of low risk and maintenance it doesn't get much better. The property is fully occupied by VTNZ on a 12 year lease with a current net rental of $80,700pa plus GST. The tenants first right of renewal is in 2021 with further rights through to 2027.
The 2,812sqm site has direct frontage to the State Highway 2 bypass and as such is subject to high volumes of passing traffic. The site is located immediately adjoining the Masterton Mitre 10 Mega development and in close proximity to industrial, retail and housing estates.
The opportunity to purchase such a low risk investment is not to be missed.
This is the property's first time on the market and the opportunity for an acute investor to secure will seldom arise.
Tenders close at 2pm, 19 Sep 2019 (will not be sold prior)