Port Domain Business Park: Industrial Investment

2-20, Port Road, Lower Hutt, Lower Hutt

By Negotiation

Proposed Usage
Development Site
Floor Area
18600.00 m²
Land Area
29104.00 m²
Description:
Property ID
1btpycd

CBRE New Zealand is proud to present Port Domain Business Park for sale. Port Domain is anchored by three reputable tenants and presents a rare opportunity to acquire an established and successful Business park with a diversified income stream.

Port Domain, 2-20 Port Road is a large scale Business Park which occupies a 29,104sqm site on five freehold titles bound by Waione Street and Port Road, both of which are major arterial roads in Seaview, Hutt City.

Port Domain enjoys a prominent position at the gateway to Wellingtons industrial estate and has significant volumes of passing traffic, providing good exposure and advertising opportunities. The property is approximately 3km east of Petone and 10km north of the Wellington CBD. Overall, the property is well located and supported by the surrounding mix of industrial, residential, trade sales and retail operators. The Business Park has a net lettable area of some 18,600sqm and provides approximately 4,830sqm of exclusively leased yard. The Business Park has undergone both internal and external refurbishment works and is currently 100% occupied, anchored by NZ Tube Mills, Tile Trends and Bramco Granite and Marble. Between them, they occupy some 13,080sqm of lettable area. Accompanying these three key anchors are nine other tenants, which are predominantly industrial and warehouse users.

The property has an extensive yard, car parking areas and a plethora of buildings of various ages dating from the late 1950s to 1980s. The buildings are spread across the whole site and have progressively been refurbished over the years. In 2010, the property underwent a comprehensive refurbishment program with a total of approximately $2 million having been spent on a range of items to maintain the complex.

Within the Wellington region there are no other strategically located industrial business parks which have ease of truck access where multiple tenants are able to work in harmony and efficiently. Demand for industrial space in the Hutt Valley is at an all-time high as land is becomes increasingly scarce and many industrial sites are being converted to bulk retail sites. Port Domain Industrial Park is a sought after asset which will provide an investor a diverse income stream and future redevelopment potential.

Given this rare opportunity to acquire an established and successful Business Park, CBRE strongly recommends your early consideration of this exceptional asset and encourages motivated purchasers to get in touch without delay.

Investment Highlights:

* Diversified income stream
* 100% leased with rental growth
* Desirable asset class
* Strong tenant covenant
* Future redevelopment potential
* Large land holding of 29,104sqm
* High profile location at the gateway to Seaview

For Sale by Deadline Private Treaty closing Wednesday 2nd August 2017 at 4pm (unless sold prior).

Enquire about this property

Lower Hutt Area