Large scale industrial investment with upside

16, Birmingham Drive, Middleton, Christchurch City

Offers

Proposed Usage
Industrial
Floor Area
5188.00 m²
Description:
Property ID
1c5kyjj

Almost 5,000sqm of warehouse with large canopy and minimal offices provides five separate tenancy spaces for a managed risk with multiple tenants. A fenced, sealed and marked car park at the rear of the site contains 152 parks with capacity to potentially construct further buildings to enhance returns. A wide thoroughfare rings the buildings and gives heavy vehicle access to all tenancies adding significant utility to the complex.

The building has been strengthened to above 67% NBS and is currently home to two tenants who together occupy over 75% of the total area. The total land area is 14,279sqm of Industrial General zoned land in this popular Middleton location.

Three of the four warehouses in the complex are leased to a single long running tenant, with the next renewal due in 2024. A small first floor kitchen is occupied by a catering company with their next renewal occurring in November of this year. A further 35 car parks are leased to an adjacent business operator, bringing in an additional $21,840 per annum for a total passing rental of $316,163 per annum. The total potential lease income when fully leased is assessed as over $494,000 per annum, which means that an active property management regime could yield significant upside.

Warehouse One is currently vacant with 1,167sqm of dual access warehouse and small office, together with adjacent sealed car parking to suit.

Call the sole agents now for a full information pack. View now to secure your opportunity to add this well located industrial investment with add value potential to your portfolio.

For sale neg over $5,400,000

Warehouse One available for lease by negotiation

For further information about the property sign into Property Files and visit www.propertyfiles.co.nz/5510026

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Middleton Area