Colliers are proud to exclusively offer to the market 6/79 Ellice Road, Wairau Valley – a tidy entry level investment with significant rental upside.
6/79 Ellice road is currently returning $57,984 pa net with guaranteed rental growth of 2% annually, plus market reviews on renewal. Astute Investors will recognise the low rental rates for a building of this size.
Currently tenanted on a 6 year lease from January 2019, to a well-established tenant “YOOBEE” (South Seas Film School), who occupies five other neighbouring units, and has done for a long time.
The 380 sqm (approx.) office / warehouse premises, with 7 designated carparks, is currently configured to suit the current tenant. Due to the generic nature of the unit, it could easily accommodate many different business uses in the future.
Rarely do investments of this quality come up for sale in the Wairau Valley. Our vendor has owned this functional unit since 1987, proving that it was built to stand the test of time.
Located in a sought after and tightly held location, this tenanted investment is sure to be a great first time investment or addition to any portfolio .
Call the Sole Agents for more information or to make a time to view.
Jack Tuson 027 448 1148 I Matt Prentice 021 464 904
Features:
* 380 sqm (approx.) office / warehouse
* Returning $57,984 pa net
* Significant rental upside
* 6 year lease from January 2019
* Long standing tenant
* Low vacancy & sought after location
* First time on the market since 1987