27 Glenda Drive, Frankton, Queenstown, Otago 9300

^Floor 760m²
^Land 996m²

For sale

By Negotiation

Premium, Bottom-Drawer Industrial Investment

Constructed in 2019, and built to 100% of code, 27 Glenda Drive is one of Frankton's premium passive industrial assets. With four tenants, there are multiple revenue streams, giving prospective purchasers the ever-important security of rental returns. The tenancy sizes are particularly popular amongst the Queenstown industrial market given the typical tenant use.

The property is fully leased, returning a net rent of $280,950 + GST. The tenants are predominantly local trade businesses who utilise the spaces as storage/workshops areas with a base for their office staff. All of the leases have built-in growth, giving incoming purchasers near-immediate rental gains.

The total size of the freehold site is 996m2 of land, with the building taking up 463m2 of this (there is a total GFA of 760m2 including first floor spaces) and the balance being car parking/yard. There is a twist to this property, with the single freehold title having the ability, and pre-approved consent, to be unit titled.

Investment Highlights:
• Split Risk Investment - Four tenants providing multiple revenue streams gives security around rental income
• 100% NBS Rating - Constructed in 2019, and built to 100% of code, the property has an NBS rating of 100%
• Tightly Held Area - Freehold industrial property offerings through Frankton are scarce
• Fully Tenanted Investment - Four tenants, returning a net rental of $280,950 + GST*.
• Unit Size Mix - Units range in size, making them attractive to a number of tenants across many industries
• Future Consent to Unit Title - The vendor has obtained consent to unit title the units, giving astute investors an opportunity to realise the upside in the future.

For Sale by Negotiation.

Please contact James Valentine and Tim Thomas to arrange an inspection or to access the online data room for further information.