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An amazing freehold industrial investment located in the highly desirable growth location of Mania Business Park, Hornby is available for genuine sale.
This property exudes quality, not only in the elements of its construction and National Tenant covenant but, also in the attractive lease provisions. The initial term of twelve (12) years brings the new owner security of the income. The strong fixed rental increases continually build the rental return while the hard ratchet clause ensures the rental return continues to increase during the life of the lease.
All of this, complete with a 6-month rent and outgoings equivalent bank guarantee, provides the new owner a secure and modern investment rarely available in the New Zealand market.
Astute investors will understand these investments are very seldom offered to the market. Call the sole agents to obtain the detailed property information.
For sale by Auction: 10am, Thursday 13 March 2025 (unless sold prior). Auction venue is Colliers Auction Room, Building 1, Level 1, 181 High Street, Central Christchurch, 8011.
*Boundary lines are indicative only.
Features:
* 12 year initial term
* Annual rental $310,000 pa + GST and outgoings
* Bank guarantee equal to six (6) months rent + opex
* Strong fixed rental growth 2.75% (after year 3)
* Internationally owned Tenant Covenant
* Commencement Date 21 May 2024
* Low site coverage 15%
* Hard ratchet market review
* Highly sought after industrial growth location
* Land area 4,937 sq m