11-19 Glenelg Street, Kaikorai 9010
Commercial investment opportunity over two freehold titles, on total land area of 4,187m2 with a modern building (footprint) of 2,095 m2 and sealed yard of 1,285m2. Secure long term single tenant on a 6 year lease with a further 6 year right of renewal returning $191,921 net rental income per annum. Tenant has been in place since 2010, with a new lease signed in 2013, guaranteed by parent company. Located in Dunedin’s popular industrial area in Kaikorai Valley and close to Dunedin’s CBD and motorways. Sealed yard adjacent to building of 807m2, with parking for up to 38 cars. Zoned Industrial. Asking price $1,975,000 firm. Call or email now for more information.Excellent investment opportunity in the industrial region of Kaikorai Valley. This property is leased by a national tenant who has been in the property from 2010 with the owners implementing alterations to accommodate the tenants specialist requirements.
The property comprises of the main building with a footprint of 2,339m2 located on a land area of 3,380m2 and adjacent car parking area of 807m2, with both on two separate titles giving a total land area of 4,187m2.
Current annual lease returns stand at $191,921 with annual rent reviews. The Vendor’s asking price reflects a purchaser return of 9.75 percent which represents great value in this popular industrial area.