Major portfolio sell down

200, Maces Road, Bromley, Christchurch City

Price On Application

Proposed Usage
Industrial
Floor Area
8473.20 m²
Land Area
24380.00 m²
Description:
Property ID
1c3x7g2

• 24,380sqm land in the process of subdivision into four freehold titles
• 8,473sqm (approximately) floor area
• Multi tenanted - risk spreading lease terms from two to ten years

Formerly the base for Luney Construction Ltd this property was re-born as a multi tenanted industrial facility in the 1990's. The Industrial zoning is well suited to the predominantly engineering related tenancies and historically this investment has maintained very low vacancy. The vendor's decision to sell the property by subdividing is designed to create investment opportunities ranging in price from $1.100,000 to $3,500,000. There is genuine intent to sell and this is reflected in the investment return on offering prices where yields range from circa 7.0% to in excess of 10%. New freehold titles are anticipated to issue in June 2019 and settlement will be timed to reflect availability of titles. Available either as one lot or four individual investments.

Property Details
200A Maces Road Land 1.1157ha, Floor 3,072sqm, Price $3,500,000
200B Maces Road Land 2,793sqm, Floor 844sqm, Price $1,100,000
200C Maces Road Land 6,173sqm, Floor 2,535sqm, Price $2,650,000
200D Maces Road Land 4,247sqm, Floor 1,960sqm, Price $1,550,000

Tenancy Details
200A Maces Rd Two leases, WALT approx 9.5 years, income $268,800pa
200B Maces Rd One lease, WALT approx 1.8 years, income $75,000pa
200C Maces Rd approx 80% leases run to 12/23, income $208,696
200D Maces Rd Two leases, WALT approx 3.26 years, income $155,554

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Bromley Area