Ad ID: 59128
Workshop and Yard for Sale Kaiwharawhara WellingtonEnquire about this "Workshop and Yard for Sale Kaiwharawhara Wellington" property on nzcommercial
Land/Development - 15 Year Net Lease
Workshop and Yard for Sale Kaiwharawhara Wellington 110 Hutt RoadCBRE New Zealand is proud to present 110 Hutt Road, Kaiwharawhara, Wellington for sale.
The offering comprises a functional, medium stud workshop with large concreted yard area and modern offices. The property has been extensively redeveloped for NZ Bus, a public transport company and the largest operator of urban bus services in New Zealand. The entire property is subject to a 15 year net lease from 1 August 2015 with two yearly CPI plus 2% rental increases.
The property is located on the eastern side of Hutt Road and the western side of the Wellington urban motorway. It is situated approximately 100 metres south-east of the Hutt Road and Kaiwharawhara Road intersection.
Given the quality of this offering, CBRE strongly recommends your early consideration of this outstanding investment opportunity and encourages motivated purchasers to get in touch without delay.
*15 year net lease to NZ Bus (Parent Company - Infratil)
*3,843sqm freehold land parcel
*NLA 1,452.4sqm plus 2,767sqm hardstand concrete yard
*Two yearly CPI plus 2% rental increases
*High profile investment property
*Strong underlying land value
*Good access to SH1, SH2 and the Wellington CBD
*Future redevelopment potential on lease expiry
*Refurbished and air-conditioned offices above depot
*Passing net income $660,603pa plus GST
Sale by Deadline Private Treaty closing Thursday 16 March at 4pm (unless sold prior).