Neighbouring freehold sites in an industrial park in Taupo that will feature newly constructed buildings with a tenant signed to a long-term lease presents prospective purchasers with an attractive passive investment opportunity.
Lots 3, 4 and 5 at 89 Tauhara Road in Taupo offer a total of 4,445sq m of land and are part of the five-lot 89 Tauhara Industrial Park, which is only three minutes’ drive from Taupo’s CBD. The property also offers a jointly owned access lot titled Lot 6.
The titles for each lot were issued in November and construction began shortly after with completion expected in August or September of this year.
Lot 3 spans 1,422sq m, Lot 4 covers 1,787sq m, and Lot 5 is 1,236sq m. The properties are being sold as a combined offering.
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The building at Lot 3 will be a 370sq m warehouse and will offer convenient access and ample client parking. A 1,486sq m building is being constructed across Lots 4 and 5 offering workshop, warehouse, and office space. The building’s design allows for conversion back to two separate tenancies in the future, if required.
The incoming tenant is Trev Terry Marine Limited, a well-established boating and outdoor lifestyle business with branches in Taupo, Kinloch, and T?rangi. Their six-year lease agreement will provide $295,000 plus GST and outgoings in net annual rental income.
Colliers Broker Hugh Milloy has been exclusively appointed to market the properties for sale by negotiation.
The buildings under construction will be utilised for marine services and new boat fit-outs, providing user-friendly facilities for the incoming tenant. Each building will have four 4m wide by 4m to 4.5m high roller doors and there will be expansive yard space available across Lots 4 and 5.
The family-owned Trev Terry Marine is at the forefront of marine experts in New Zealand, with leading boat brands that include Haines Hunter, Stabicraft, Fi-Glass, Regal, and Smartwave. They also stock the largest range of used boats in the country.
While Trev Terry Marine have committed to an initial six-year lease term, there are two further rights of renewal in place for five years each.
Milloy, Broker at Colliers Taupo, says this unique purchasing opportunity offers buyers the chance to secure newly constructed properties with a strong tenant covenant.
“As far as passive investments go this is one of the most appealing that has been presented to the market in Taupo recently given the long-term lease on offer with an established incoming tenant,” Milloy says.
“Lots 1 and 2 in the industrial park have already been sold as buyers have seen the potential on offer.
“The construction of the buildings will be to a high standard providing peace of mind for prospective purchasers, while the vast yard space will only add to the functionality of the site.”
Aside from offering easy access to Taupo’s CBD, the property is also only a few minutes away from State Highway 1 meaning travel north and south can be undertaken with ease.
The site is zoned Taupo Industrial Environment, and the neighbouring tenants include Hynds Pipe Systems, Farmlands, and Carters.
“This will prove to be a highly popular industrial park and the area is tipped for significant growth given the high-profile tenants located in the surrounding sites,” Milloy says.
- Article supplied by Colliers
