19-25 Montgomery Road is a split-risk industrial asset with established tenants returning a combined rental income of $250,596 + GST & outgoings per annum. Both tenants are part-way through 4-year lease terms and have rights of renewal at their disposal.
New Zealand Manufacturing Limited is a long-standing tenant in the property and utilises both 23 and 25 Montgomery Road for manufacturing and administration purposes. The Bay of Plenty Regional Council leases 19 Montgomery Road for storage and administration purposes. Both leases have regular growth built into them and current rental rates will allow future rental growth.
Set on a total of 3,778m² of land across three individual titles, the three large industrial buildings provide excellent accommodation for manufacturing and storage uses.
The buildings, built between 1982 and 2006 offer a total floor area of 2,066m² (approx).
The underlying land is commercial in zoning which allows for a wider scope for future re-development including office, retail and high-density residential.
Features:
* Total land area 3,778m²
* Total building area: 2,066m2 (approx)
* Total annual rental: $250,596 plus GST
* Two established tenants
* Land zoning: Commercial
* Future development opportunities
