Description: 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.
• 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 Deadline Private Treaty, closing Thursday 2 November 2023 at 4pm (unless sold prior).
Please contact James Valentine and Tim Thomas to arrange an inspection or to access the online data room for further information.