A large multi-tenanted property anchored by a leading fencing supplier has gone up for sale in a key Tauranga industrial hub.
The more than 2,400-square metre freehold site on Birch Avenue, in the city-fringe Judea industrial precinct, contains multiple warehouse and office premises and an extensive yard.
Its five tenancies are fully occupied by Chaytor Fencing Co., along with a fibreglass manufacturer, a sign-making business and an automotive repairs and servicing provider.
Chaytor Fencing Co. specialises in the design, manufacture and installation of fencing, gates, decks and retaining solutions that has serviced Tauranga and the Bay of Plenty region for over 45 years.
Start your property search
The other tenants are:
-City Fibreglass, which serves the Tauranga auto accessories market with car body kits, spoilers, mags and tyres.
-ABC Photosigns, a national business established in 1999 specialising in real estate photo-board signage.
-Auto Bay, which provides automotive garage services including vehicle maintenance, repairs and diagnostics.
Brendon Bradley of Bayleys Real Estate said the diversity of the tenant businesses would hold special appeal for buyers seeking a quality split-risk investment.
The property generates a total net rental income of $87,317 plus outgoings and GST per annum.
“With the premises fully-occupied on various lease terms, and with rentals below market levels, there’s a golden opportunity for an add-value investor to come in and capitalise on future rental upside,” Bradley said.
The property at 90 Birch Avenue, Tauranga, is being marketed for sale by family sales team Brendon, Lynn and Ryan Bradley of Bayleys Tauranga.
It will go under the hammer at an auction on Wednesday 26 October, unless sold prior.
Lynn Bradley said the approximately 2,443-square metre site contained buildings with a rentable area of some 1,059 square metres.
The balance of the predominantly flat site consists of concrete and paved yard space with 16 car parks.
“The main industrial building was constructed in the 1970s, with later additions. This incorporates four workshop tenancies ranging in size from approximately 106 square metres to 260 square metres, each including a warehouse plus office and amenities.
“Chaytor Fencing Co. occupies one of these, plus a further rear yard tenancy with a standalone office and workshop building and over 110 square metres of canopies.
“The property benefits from a 30-metre frontage to Birch Avenue, while the generous yard areas and parking support the efficient movement of vehicles and goods onto, off and around the property,” she said.
Ryan Bradley said a key attraction of the Birch Avenue property was the opportunity to gain a foothold in the Judea industrial precinct, which is in high demand but has very little vacancy.
“The site for sale sits in an intensive pocket of industrial development. Industry zoning under the Tauranga City Plan supports wide-ranging industrial activities – along with ancillary offices and retail, trade and yard-based supplies, and port activities.
“Nearby properties are generally home to light-industrial, manufacturing and service-related businesses.
“Birch Avenue is a highly convenient location for industrial occupiers, thanks to its proximity to Tauranga’s CBD, and good access to Port of Tauranga via Takitimu Drive and to Mount Maunganui via the harbour bridge,” Ryan Bradley said.
- Article supplied by Bayleys
