Commercial Investment Opportunity

Bayleys Wairarapa is pleased to offer for Sale this prime commercial opportunity at 12 Papawai Place, Masterton.
This outstanding property offers a Purchaser:
A solid investment with a proven tenant base with the ability to grow. Further space available to let. Annual rental income $111,750.20 excl GST.
Approximately 200 square metres of office space and 700 square metres of warehouse space with drive through space and entrances able to accommodate large trucks i.e. curtainsiders and trailers.
Further there is ample bare land to build further buildings, so the potential is here with an already attractive rental income and enormous potential to grow that return.
The property is on the Eastern side of Masterton in Papawai Place, just off Ngaumutawa Road, backing onto to the Masterton to Wellington railway line, approximately 2kms west of the traditional retailing area. Ngaumutawa Road joins State Highway 2 to the south and further forms part of the traffic bypass around the Masterton town centre.
Masterton is the dominant urban centre for the province of the Wairarapa having a residential population of just under 20,000. There is a well patronised commuter rail link to Wellington and the Hutt Valley, four trains every morning Monday to Friday.
Many residents of Masterton use this link and work in the Wellington region. The property is surrounded by other predominantly industrial businesses with rural/residential on the Western side of Ngaumutawa Road. Over recent years other bulk retailers and chain stores have developed a presence in the town.The site is zoned Industrial Heavy Manufacture under the Combined Wairarapa district Plan 2011. This zoning enables a wide range of activities. District Plan maps and the uses and rules within the District Plan are available for inspection at the following website: www.mstn.govt.nz.