50 Burns Street, South Dunedin, Dunedin City, Otago

50 Burns Street, South Dunedin, Dunedin City, Otago A-Grade Bottom Drawer Investment

This exceptional offering will undoubtedly be one of the most sought-after property investments offered to the local market for some time. The asset represents a rare opportunity to purchase a premium freehold industrial/trade asset with a solid lease to a reputable tenant such as Fletcher Distribution.

The property is strategically located near the corner of Neville and Burns Streets, occupying part of the former Carisbrook rugby ground which has in recent times been redeveloped by Calder Stewart who have been building purpose-built buildings for well-known national tenants/businesses on the site. Placemakers and Easysteel were the first buildings completed on the site.

The Placemakers building, completed mid-2022, occupies a site with a total land area of approximately 1.1761 hectares (more or less), and features a new lease with an initial term of 10 years (with rights of renewal thereafter). The current rental income for this property is $644,487.45pa plus GST with a mixture of fixed growth and market reviews throughout the lease.

The site is located in close proximity to State Highway 1, Andersons Bay Road, Kiwirail's Hillside workshops (currently undergoing a significant circa $100m redevelopment), and many other key landmarks.

Contact the nominated broker for more information.