This substantial industrial property located at 74-80 Tallyho Street and 77 Riri Street, Rotorua, offers a unique opportunity for investors or owner-occupiers looking to acquire a diverse portfolio of multiple units. The site spans five freehold titles, giving you the option to purchase as a complete package or in smaller parcels.
The total property boasts a footprint of 2457 sqm, featuring 12 industrial units ranging from 84 sqm to 403 sqm, ensuring a variety of tenancy options. The property currently generates $181,395 per annum in net rent plus GST and outgoings, with only one vacant unit of 116 sqm and an owner-occupied space of 95 sqm.
A key tenant currently occupying six units (1486 sqm) has provided notice to vacate by 28th February 2025, which presents an exciting opportunity for future leasing, adding flexibility for new tenants or owner-occupiers. Post-vacancy, the property is projected to return $62,585 per annum plus GST and outgoings, giving an owner/occupier options.
In addition to the industrial units, there is an unimproved vacant section of 630 sqm at 77 Riri Street, offering future development potential or additional leasing opportunities. The property is zoned Industrial 1 (IND 1) and was constructed in the 1980s to around 68% of the new build standard, ensuring compliance while allowing room for future upgrades.
This is an excellent opportunity to secure a versatile and income-generating industrial asset in a strategic location.
