Brand New Westgate Industrial Investment
JLL are proud to exclusively offer to the market the first ever large format Industrial investment to be campagined in booming Westgate’s short history. Works on the brand new and…
purpose built 12,833 square metre bus station facility was recently concluded by well regarded, Northbridge Properties.
The tenant, Pavlovich Coachlines, is a 35 year old kiwi coachline business and the facility is split for use, with 80% used for vital local Northwest bus lines backed by Auckland Transport contracts set to CPI and the balance is used for the private commercial coachline business.
Total net rental income is $964,380 pa net + OPEX. In addition to an initial 15-year lease term with 3 ROR’s + a final lease expiry in 2055, this high growth asset has an annual CPI rent review (mirrored in the Tenant’s respective Auckland Transport contract) and 6 yearly reviews to market.
For Sale by Private Treaty with offers closing at 4pm on Thursday 4 May
* Annual returns between $964,380 pa net + OPEX
* Tenant – Pavlovich Coachlines Limtied
* 15 year lease + 3 ROR’s. Final Expiry in 2055
* CPI Annual rental growth + market reviews
* Land bank – The property is surrounded by high value Data Centres with massive comparative land value
* Vital Bus Station Asset
* Sole agency - call now to register your interest
* Office: 500sqm
* Workshop: 673sqm
* Washbay: 216sqm
* Yard: 11,744sqm
22 May 2023
1.28ha (3.17acres) (approx.)