Industrial Investment with Development Upside

56 Grant Road, Frankton, Queenstown

Industrial / Investment / Land/Development Site / Warehouse For Sale

For Sale by Deadline Private Treaty closing at 4pm Friday, 25 Oct 2019 (Unless sold prior)
Land Area: 4,042.00 m2.    Floor Area: 750.00 m2.    

Lot 7

Description

The property comprises a 4,042m² block of freehold, fee simple land within Frankton Flats, Queenstown. 1,541m² of the site has been improved with two brand new industrial buildings with three strong Tenant Covenants to Noel Leeming, Briscoes and Bingo Trucking, and associated car parking. The balance of the site is vacant industrial development land. The property is currently zoned Activity Area (D) on the Frankton Flats (B) Structure Plan as defined by the Queenstown Lakes District Council.

Centrally located within the Frankton Flats, 56 Grant Road is part of a 2.15 hectare industrial zoned site which has recently been subdivided into a 7 lot subdivision. The subdivision is located adjacent to the west side of Grant Road, adjoining to the south of the Five Mile Shopping Centre, just off the Main Frankton State Highway (SH6). Further to the south is Queenstown Airport land. The location is ideal for a mix of light industrial uses including logistics, depots, storage etc, well located with the central Frankton Flats area where a lot of Queenstown’s future growth is planned.

This is an exceptional investment opportunity in Queenstown’s tightly held industrial market.

Features

  • Located within Queenstown’s rapidly expanding industrial area in Frankton
  • Prime location - situated within close proximity to Five Mile, QT Central, and Queenstown International Airport
  • Leased $178,150 p/a + OPEX + GST as per below table.

Occupants

Occupant Term Net Annual Income
Noel Leeming Initial Term Expiry 7/12/2024 - 2 x 6y renewals $47,000 + GST & OPEX
Briscoes Initial Term Expiry 22/05/2022 - 4 x 3y renewals $67,650 + GST & OPEX
Bingo Trucking Initial Term Expiry 1/03/2027 - 2 x 4y renewals $63,500 + GST & OPEX

Map

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