Large Investment Returning $972,700 net pa 2.2 hec

6-8, Fort Richard Road, Otahuhu, Auckland City

By Negotiation

Proposed Usage
Industrial
Floor Area
12270.00 m²
Land Area
22825.00 m²
Description:
Property ID
1bss9lj

Large Investment Returning $972,700 net pa 2.2 hec

- Outstanding investment with strong tenant covenant
- Tenant been on site for over 30 years
- Returning $972,700 p.a. plus GST
- Large 22,825sqm freehold site
- PAUP Mixed Use - residential activity up to 4 storeys approx..
- Demolition clauses

This outstanding investment provides the investor with a unique proposition offering either a long term investment or a redevelopment opportunity.

The property consists of a large freehold site on Fort Richard Road together with a smaller retail property fronting Great South Road, which could provide additional site access for any redevelopment opportunity.

From an investment perspective the tenant Carr & Haslam Ltd have been on site for over 30 years and their final lease expiry (incl. ROR) is 2022, however there could be the opportunity to negotiate more favourable investment terms.
From a redevelopment perspective the location, size of the site, Mixed Use zoning under the proposed Unitary Plan and demolition clause provide for a residential development opportunity.

For Sale by Private Treaty.
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Otahuhu Area