• Tenanted by Seeka Limited - listed company on the New Zealand stock exchange
• Turanga Whetu – a brand new accommodation complex plus industrial coolstore
• 15 year triple net lease with ROR and fixed annual CPI rent reviews capped at 3%
• Lucrative annual net rental of $700,000 +GST and OPEX with annual rent reviews
• Gross floor area of 3,020sqm (approx.) and land area of 1.1575ha (more or less)
Significant opportunity to purchase a sizeable rural zone accommodation/industrial asset to be sold with a new 15 year initial lease term plus further rights of renewal to Seeka Limited, one of the largest post harvest kiwifruit operators in Australasia.
The property comprises a brand new 140 bed accommodation premises for Recognised Seasonal Employees (RSE) servicing Seeka’s horticultural sector plus a new two bedroom managers residence. Overall, this complex provides quality accommodation and amenities of a very good standard for the RSE workforce.
The adjacent industrial building constructed circa 1982 contains a coolstore, workshop, office, storage areas and a communal recreational lounge for the RSE workforce. A staffroom together with ablutions is located within a mezzanine area.
Situated in the highly sought after Katikati horticultural hub of Aongatete, this is a strategic low risk investment property underpinned by a strong tenant covenant and a substantial annual net rental income. This asset must appeal to astute investors seeking a 7.5% yield plus the security of tenure this lease assures for a long term hold!
