160 Glenda Drive, Frankton, Queenstown Lakes

Nestled in a serene cul-de-sac at 160 Glenda Drive, Frankton, Queenstown Lakes, this modern industrial edifice boasts a freehold title and a robust concrete and iron construction, built in 2003. It features a 284sqm floor area with a 2-bay warehouse, associated office space, and a generous 4-car park facility, all set upon a 450sqm land plot. The property presents a solid investment opportunity with a current government valuation of $1,420,000 as of September 2021, a significant 30.28% increase from its $1,090,000 valuation in July 2017. The property is tenanted by reputable Calder Stewart, with a rental income of $90,050 + OPEX & GST per annum.

With a HouGarden AVM estimate of $1,425,000 and a latest sale history of $1,825,000 in August 2024, compared to $689,978 in March 2010, this industrial asset is not only a testament to capital growth but also a promising investment in a tightly held area. The lease includes regular market rent reviews, ensuring a passive yet lucrative investment for the discerning buyer.

For families, the property falls within the catchment area of esteemed St Joseph's School and Remarkables Primary School, both decile 10 institutions, promising a high-quality education for the young ones.

Updated on September 11, 2024