- For sale
For SaleAsking price of $2,100,000 plus GST (if any)
27 Enterprise Drive, Papamoa is a modern industrial-style building comprising two commercial tenancies and a first floor residential flat. The three tenants are long-established, with both commercial leases on three year terms with rights of renewal remaining.
Built in 2004, the building was constructed to modern building standards with high roller doors, excellent stud-height and robust materials to ensure a versatile and low maintenance asset. Sitting on 1,126m² of land the site allows good parking and maneuvering area for larger vehicles.
The currently below-market rental is topped up by the Vendor to $105,000 plus GST pa to offer a 5% return at the asking price of $2,100,000 for a period of two years post-settlement.
Papamoa has seen incredible growth in both the scarcity and value of land in recent years. Split risk investments such as these are increasingly rare and with such a modern and versatile building should allow solid income long into the future.
Contact the sole agent, Rich Davidson for an information pack and to arrange a viewing.
Ref #: 20892490