The land and buildings of a large freehold site in the heart of Mount Maunganui’s tightly held industrial precinct present buyers with a premier purchasing opportunity.
65 Aviation Avenue in Mount Maunganui features two industrial buildings that are split into three tenancies, providing a combined floor area of 513sq m. With a total land area of 2,411sq m the property has low site coverage of approximately 22 per cent, allowing for generous yard areas.
Two of the tenancies are currently vacant with one existing tenant, who leases Tenancy 3 and has a final expiry of 31 March 2023.
Current market estimates suggest the property, when fully tenanted, would provide approximately $136,000 plus GST and operating expenses in annual rental income.
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The property is fully fenced with large concrete aprons and metaled yards as well as a fully consented washdown bay. Each tenancy has its own facilities, and the large yard offers great vehicle access and vehicle manoeuvring.
Colliers Brokers Rob Schoeser and Simon Clark have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Thursday 7 April, unless sold prior.
Building 1, the largest on the property at 298sq m, is a high stud warehouse with 210sq m of workshop space and 44sq m of office space and 44sq m of mezzanine. Access is available through two large roller doors.
Building 2 is split into two separate tenancies, the first offers a 135sq m workshop, while the other has an 80sq m workshop.
Schoeser, Commercial and Industrial Sales Broker at Colliers Tauranga, says the site will offer the new owner flexibility given the scale of the landholding.
“With such low site coverage, the purchaser will have the opportunity to develop further buildings at the site or reposition it for a variety of purposes that will suit their individual needs,” Schoeser says.
“Given the existing tenancy there is some holding income available that will provide a steady rental stream while the new owner plans their next moves.
“This property will appeal to a wide range of buyers that will see the potential on offer. These are highly functional workshops on a secure site that will provide future occupants with a user-friendly work environment.”
Clark, Managing Director at Colliers Tauranga, says land in this area of Mount Maunganui remains highly sought-after among buyers.
“The property enjoys favourable proximity to the Port of Tauranga, which is New Zealand’s largest port, and provides significant appeal for local and national businesses,” Clark says.
“Aviation Avenue adjoins the Tauranga Airport and is accessed through Aerodrome Road and Jean Batten Drive. Both of these streets intersect Hewletts Road, which offers access to the Harbour Bridge to Tauranga to the west and towards Bayfair and Papamoa towards the east.
“The property is surrounded by modern industrial sites given this subdivision was developed in the early 2000s.”
Clark says the ongoing population growth in Mount Maunganui and nearby Tauranga has contributed to continued expansion in the industrial and commercial property sectors.
“Many people have continued to move to the region to enjoy the lifestyle that is on offer, and this has led to further demand for industrial premises, which continues to outstrip supply.
“We encourage all interested parties to do their due diligence and contact us immediately as an industrial property such as this one with low site coverage and functional workshops in a secure yard with future potential for development is sure to attract strong interest.”
- Article supplied by Colliers
