Investment Income and Water Rights

2, Matipo Street, Riccarton, Christchurch City

By Negotiation

Proposed Usage
Industrial
Floor Area
8501.00 m²
Land Area
16249.00 m²
Description:
Property ID
1bsj8xn

- Investment income and new business opportunity
- Water permit: 2,592 cubic metres per day
- Opportunity to add value with 50% net lettable occupied

This significant land holding with food processing facilities and cool storage, offers an exciting blend of income and opportunity. Annual rental is approximately $500,000 or approximately 50% of net lettable by assessed value. Negotiations are underway to lease more warehouse space. The opportunity is truly unique. Formerly a food processing site there is a permit to take and use ground water to a volume not exceeding 2,592 cubic metres per day (approximately 950m litres/annum). Strengthening and fire compliance work is planned for completion by 30 September 2017 making available approximately 950sqm of quality offices over two levels along with various workshops and food processing areas. This is an outstanding opportunity to land bank in a prime location with investment income, knowing more lettable space is soon available, or take it a step further and capture the real value of water..

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Riccarton Area