298 Manaia Road, Homebush, Masterton

Under Contract - $140,000 net rental on new lease

• Proven A-Grade tenant well established on the site
• $140,000 + GST net income

Blue-chip tenant, the award winning Steens Honey business have operated on this premises for the last 16 years and entrenched their manuka honey exporting business in the region.

The large premises, factory floor, cool store, temperature control rooms, further storage and substantial yard perfectly meet the needs of the tenant. The opportunity for secure income with such a well-located freehold property of 1.7ha (more or less), and a proven A-grade tenant is extremely rare.

The net lease of $140,000 plus GST has been set using independent registered market valuation and includes annual rental uplift reviews, and a market rent review at renewal. This long-term occupation and lease commitment shows the intention of the tenant, with the location mere minutes from Masterton, the infrastructure and space making this a very attractive commercial investment to add to or kick-start your portfolio.

The Wairarapa is a booming and enterprising area, this property should certainly interest investors locally and nationwide and be seen as a blue chip investment or relatively safe addition to any portfolio.