6 Year Lease to International Tenant
15, Lambie Drive, Papatoetoe, Manukau City
Price On Application
- Proposed Usage
- Floor Area
- 2511.00 m²
- Land Area
- 7068.00 m²
- Property ID
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Situated in Manukau’s commercial precinct, Lambie Drive is one of the main arterial roads stretching from Puhinui Road through to Wiri Station Road. The area is well serviced with a number of amenities nearby, such as Manukau City Centre. Enjoy easy access to the motorway network with both State Highways 1 and 20 within close proximity.
The building itself is situated to the centre of the freehold site with the perimeter allowing for plenty of car parking and manouvering areas. The property comprises a well presented modern two story office block that has undergone significant tenant improvements.
With the next lease renewal due in February 2024, the internationally recognized tenant currently returns $737,767 net per annum with rent reviews fixed at 3%.
Passive and add value investors will be attracted to the extremely strong tenant covenant and long lease term whilst recognising the future potential of the large strategic land holding in the heart of Manukau.