JUCY Queenstown Investment

52-54 Grant Road, Frankton, Queenstown

Investment / Land/Development Site For Sale

For Sale by Deadline Private Treaty closing at 4pm Thursday, 17 Oct 2019 (Unless sold prior)    Vacant Possession
Land Area: 5,726.00 m2.    Floor Area: 840.00 m2.    

Description

52-54 Grant Road is currently under development into a new purpose-built industrial facility with a long lease to one of New-Zealand's best-known tourism brands. Located in tightly held Frankton, the property will feature a new customer service centre, workshop and vehicle storage for rental car operator JUCY Rentals. 

The generous 5,726m² freehold site is situated within the sought-after Five-Mile precinct in Queenstown, amongst various other multi-national and national tenants on long leases.

Commercial & industrial zoned land is in short supply in the Queenstown area; this is a rare industrial land holding underpinned by a long term national tenant.  JUCY have committed to a new 10-year lease term from completion and settlement with a net annual rental of $585,060 and fixed annual growth set at 3%.

The site location paired with the lease profile provides an investor with stable income and future potential value-add opportunities. On completion, the property will consist of high quality customer service centre and associated workshop/vehicle preparation accommodation with a total floor area of 840m² along with circa 4,800m² of parking and yard space. A highly functional and well thought out site plan ensures maximum productivity and future flexibility in the long term for a variety of users.

This is a hugely attractive passive investment strengthened by an under-developed site allowing for further development in the future.

Please contact us today for a detailed Information Memorandum which includes: Investment Highlights, Lease Terms, Tenancy Profile, Market Trends, Property Insights, Zone Overview, Sales Process.

Features

  • Net passing income $585,060 pa net from lease commencement
  • Long Lease - New 10 year lease providing stabilised income for years to come
  • Strong lease covenant with fixed 3% rental growth
  • Quality construction - Brand new office/warehouse facility
  • Located within one of the strongest industrial investment markets in New Zealand

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