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The Opportunity

This is a smart industrial investment with two well-presented buildings on one title.

Features:

Land area 6699sq m (approx.)
Net lettable area 4041sq m (approx.)
Current net rent $512,894 per annum
Seismic rating 80%
Drive through access to Orchard Road

For Sale by Deadline Private Treaty closing Thursday 4th September 2025 4:00pm (Unless sold prior).

Highlights

Land area 6699sq m (approx.)

This is a smart industrial investment with two well-presented buildings on one title. There is the opportunity to purchase the whole property or subdivide the site to create two titles. One title would include the Blackwoods and DHB tenancies and the other would include the rear warehouse and office, which could be sold off individually.

At the front, a modern building built in 2010 is leased to NZ Safety Blackwood’s on a 5-year lease from October 2021 with two further 5-year rights of renewal, currently paying $113,411 per annum. The space includes 87sq m of office, 388sq m of showroom, and 125sq m of warehouse. Rent reviews are every two years.

The middle tenancy is leased to Hawke’s Bay District Health Board on a new 10-year lease from December 2023, returning $149,483 per annum. This space includes offices, warehouse, mezzanine, and canopy, totalling over 1,600sq m.

Current net rent $512,894 per annum + GST

At the rear, the original building, constructed in 1995, is currently leased to Archant Property Limited on a two-year lease term from settlement. The lease generates an annual rental of $250,000. This part of the site comprises a warehouse of approximately 1,574sq m, office space of 268sq m, and a canopy measuring 326sq m.

With all three tenancies, the current net rent is $512,894 per annum + GST.

The rear building has been assessed by GDC Consultants as 80% NBS in 2022, with the front buildings post 2004 building code and expected to be at least 100% NBS.

For more detailed information, call Danny on 021 826 496 or Calum on 024 698 6996 today.