The Opportunity

50 Burns Street is exceptional offering will undoubtedly be one of the most sought-after property investments offered to the local market for some time. The asset represents a rare opportunity to purchase a premium freehold industrial/trade asset with a solid lease to a reputable tenant such as Fletcher Distribution.

Features

• Floor area 3,203sqm
• Land area 11,761sqm
• Premium freehold industrial/trade asset
• New lease with an initial term of 10 years
• Current rental income $644,487.45pa +GST
• Close proximity to State Highway 1

For Sale by Deadline Private Treaty 7th Jun 2023 16:00:00

Don't miss out on this rare gem! 50 Burns Street is being marketed for sale by Deadline Private Treaty, which closes on Wednesday 7th June 2023 at 4pm (unless sold prior). Contact the nominated broker for more information.

Highlights

Strategic Location

The property is strategically located near the corner of Neville and Burns Streets, occupying part of the former Carisbrook rugby ground which has in recent times been redeveloped by Calder Stewart who have been building purpose-built buildings for well-known national tenants/businesses on the site. Placemakers and Easysteel were the first buildings completed on the site.

New lease with an initial term of 10 years

The Placemakers building, completed mid-2022, occupies a site with a total land area of approximately 1.1761 hectares (more or less), and features a new lease with an initial term of 10 years (with rights of renewal thereafter). The current rental income for this property is $644,487.45pa plus GST with a mixture of fixed growth and market reviews throughout the lease.

The Agents

Dean
Collins

Director | Commercial Broker
Dunedin

Licensed under the REAA 2008

CALL NOW

Location

Sales Process

For Sale by Deadline Private Treaty 7th Jun 2023 16:00:00