The two-level building at 4 Seafair Close in Riverlands, just 10km from Blenheim’s CBD, is fully tenanted across four tenancies on the ground floor, with a large, vacant first floor previously used as a meat processing facility.
Each level has a 2,530-square metre floor area, for a total floor area of 5,060sqm. The land area of the site, zoned Industrial 2, is 4,716sqm. The site comes with 10 dedicated car parks, with additional on-street parking available.
The property is being marketed by Grant Thorpe and Zak Thorpe of Bayleys Marlborough and is for sale by negotiation.
The ground floor is fully tenanted and divided into four separate tenancies that are currently returning $413,600 p.a + GST and OPEX.
The first floor is one open space but could be divided into multiple tenancies. Access to the first floor is via a covered external staircase and an industrial lift. When the first floor is tenanted the total potential income from the site would be approximately $663,600 p.a.
Grant Thorpe said the size and flexibility of the property make it a unique and appealing opportunity for both investors and owner-occupiers.
“There is potential here for investors to build on the income from the current tenancies by maximising the use of that large first floor area.”
“It presents a development opportunity for the meat processing sector due to its prior use in that industry. However, the building could also be developed to suit a range of activities such as bulk storage, freight distribution or other trades and services,” he said.
Furthermore, the vacant first floor makes this building a rare find for owner-occupiers to find secure space for their own business, while drawing additional income from tenants.
“The mixed-use nature of the site, and its large footprint, make it an extremely viable option for business owners wanting to invest in their own bricks and mortar, with the added value of additional leases,” he said.
Zak Thorpe said the location of Cloudy Bay Business Park, within short drive of Blenheim CBD with access to State Highway 1 makes it a highly sought-after area for a wide range of industrial business. High profile businesses nearby include A2 Milk, Springbrook Foods and Crown Sheetmetal.
“Cloudy Bay Business Park is an extremely practical location for businesses wanting to be connected not just to the local community, but who need to be connected to the national freight and transport network. It is central and very easily accessible.”
Two of the building’s current tenants have been on site for almost 20 years, which confirms the appeal of the site, and the location, Zak Thorpe says.
An NPD Truckstop fuel station and the Riverlands Roadhouse Truckstop accommodation, as well as other cafes and takeaway bars, are all adjacent to Cloudy Bay Business Park.
“Properties of this substantial size in such a well-connected, well established location don’t come to market often in this area,” Zak Thorpe said.
“This site in Seafair Close would be perfect for business wanting to cement their place in Marlborough or an investor who sees the scope of opportunity here.”