Leased Commercial Property Investment

Represents 8.60% yield, land and building for sale. The tenant, Industrial Marine Ltd, is a successful manufacturing business that has been in operation since the 1980's and under the current ownership for the last 17 years, existing and new contracts include national and international clients. A new lease agreement has been established to take effect as of 1 June 2012, annual rent of $40,000 + GST + outgoings, on a 3 + 3 + 3 yearly basis. \nSituated in the Industrial One zone permitted uses for the property include but are not limited to activities for industrial, commercial, vehicle orientated, services and warehousing, subject to zoning conditions. Land area of approximately 800sqm the property has a good street exposure, easy vehicle access to a large front yard with the building at the rear incorporating several workshop areas, storage, offices and mezzanine level. Dodson Street is located off the northern end of Grove Road / State Highway One, 1.5km from Blenheim CBD. For more information, including a 2012 registered valuation please contact the vendors exclusive agents Glenn Dick and Grant Baxter, Bayleys Marlborough.\n\nFor Sale $465,000 + GST if any\n\nIf you would like to receive our fortnightly email newsletter, please email glenn.dick@bayleys.co.nz and put PLEASE ADD ME TO EMAIL in the subject line. It is a great way to hear about new listings and to keep up to date with the local property market.\n\nKeywords: Blenheim, Mayfield, Commercial property for sale.\n