Long Term Investment - New 12yr Lease!

49-53, Maurice Road, Penrose, Auckland City

Price On Application

Proposed Usage
Industrial
Floor Area
2121.00 m²
Land Area
2427.00 m²
Description:
Property ID
1c54tf8



FOR SALE BY DEADLINE PRIVATE TREATY closing 4pm Wednesday 17th April 2019 (unless sold prior) 

Looking for a long-term and passive investment situated in Auckland's most sought after precinct?? Look no further!

With a new 12 year lease in place and further rights of renewals after that, the final expiry of this lease runs until 2052 - an extremely long term investment in a high profile position directly across the road from Mt Smart stadium. 

Leased to a prominent engineering outfit who have been in business since 1975, this Tenant is well entrenched in the property and is paying $220,000 net plus GST per annum. 

Spread across three freehold titles (two being conjoint), the total floor area comprises some 2,121m² of net lettable area. Total land size of these three titles is 2,427m² and each are zoned 'Heavy Industry' under the Auckland Unitary Plan. 

Maurice Road is a popular road, linking Station/Mt Smart Road with Church Street. Penrose has long been considered an industry powerhouse and is one of the most established and central suburbs in Auckland. It's rich history has seen many businesses thrive due to it's close connection to the main railway line and key transport infrastructure, such has SH1 and SH20. It has excellent access to the Airport and both the CBD and Inland Ports. Penrose has a bright future and continues to benefit from ongoing development by progressive landlords such as Goodman, Stride, Southpark, and JKGL and is now home to some of the world's largest and most successful brands in logistics and manufacturing.

All due diligence information, including all lease information, can be provided by contacting the sole agents below. 

Enquire about this property

Penrose Area