5 Brock Way, Richmond, Tasman

Rare freeholding investment

• Brand new building, returning net $260,000pa + GST
• Fixed annual growth with rights of renewal through to 2044
• Proven occupier with a strong national and global footprint
• Scarcity of prime industrial opportunities add weight to long term value

5 Brock Way, Richmond, offers investors a rare combination of a high-quality industrial facility, a secure tenant covenant, and a long-term lease structure with built-in growth. The building itself is exceptionally well balanced, with an 870sqm (approximately) warehouse providing scale and efficiency, a 440sqm (approximately) office and showroom finished to a strong corporate standard, and a 200sqm (approximately) workshop that adds versatility. Set on a 3,000sqm (more or less) freehold site, the property is practical and functional, while also presenting to a level that will appeal to both occupiers and investors for years to come.

The tenant covenant underpins the investment, with a net $260,000pa + GST, fixed 2.75% annual growth, and rights of renewal extending the lease to 2044. For investors, this provides certainty of income while also ensuring steady rental uplift over the life of the lease. The strength of the tenant and the structured lease terms give confidence in the asset's long-term stability.

Richmond has emerged as the primary industrial and commercial hub of the Nelson Tasman region, with limited availability of freehold industrial investments of this quality. Positioned close to State Highway 6 and the region's key transport routes, the property benefits from excellent connectivity and ongoing demand from occupiers who value accessibility and efficiency.

This scarcity of comparable stock in the market is expected to generate competitive tension and underpin future value.