Major portfolio sell down


200 Maces Road, Bromley

Asking Price NZD $8,200,000 + GST (if any)

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Major portfolio sell down | 200 Maces Road, Bromley | 558239 |      X Close
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Description

Major portfolio sell down


• 24,380sqm land in the process of subdivision into four freehold titles

• 8,473sqm (approximately) floor area

• Multi tenanted - risk spreading lease terms from two to ten years

Formerly the base for Luney Construction Ltd this property was re-born as a multi tenanted industrial facility in the 1990's. The Industrial zoning is well suited to the predominantly engineering related tenancies and historically this investment has maintained very low vacancy. The vendor's decision to sell the property by subdividing is designed to create investment opportunities ranging in price from $1.100,000 to $3,500,000. There is genuine intent to sell and this is reflected in the investment return on offering prices where yields range from circa 7.0% to in excess of 10%. New freehold titles are anticipated to issue in June 2019 and settlement will be timed to reflect availability of titles. Available either as one lot or four individual investments.

Property Details

200A Maces Road Land 1.1157ha, Floor 3,072sqm, Price $3,500,000

200B Maces Road Land 2,793sqm, Floor 844sqm, Price $1,100,000

200C Maces Road Land 6,173sqm, Floor 2,535sqm, Price $2,650,000

200D Maces Road Land 4,247sqm, Floor 1,960sqm, Price $1,550,000

Tenancy Details

200A Maces Rd Two leases, WALT approx 9.5 years, income $268,800pa

200B Maces Rd One lease, WALT approx 1.8 years, income $75,000pa

200C Maces Rd approx 80% leases run to 12/23, income $208,696

200D Maces Rd Two leases, WALT approx 3.26 years, income $155,554

200 Maces Road, Bromley

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