701 and 703 Orchard Road, Camberley, Hastings

Industrial Freehold - VTNZ Hastings

•1,170sqm of buildings (more or less)
•3,321sqm of land (more or less)
•$126,000 + GST per annum net income

A unique opportunity to secure a prime investment well situated in the Omahu Industrial area. 701 Orchard Road, Hastings comprises of a standalone 1,170sqm (more or less) industrial high stud building with a mixture of office and warehouse sitting on a sizeable freehold land parcel of approximately 3,321sqm (more or less).

The tenant, Vehicle Testing New Zealand Limited, signed a new three (3) year lease in October 2020 paying a net rental of $126,000 + gst per annum. VTNZ complete over half a million car and truck assessments each year and well over 200,000 practical driver tests; more than any other New Zealand company. They are powered by DEKRA, founded in Germany nearly a century ago, who are world-leaders in testing and auditing services, completing over 23 million inspections every year.

This impressive investment offering to the market will suit a range of investors nationwide with a A-grade tenant and sizeable land holding in a prime location. The building has a seismic rating of 75% and there are two (2) further three (3) year rights of renewal.

For more information or to book a viewing please call exclusive brokers Jake Smith or Daniel Moffitt from Bayleys today.