Property Overview
16 Earl Drive was originally part of the Katikati Dairy Company, and the building still shows it. Stud heights run from three metres to over four — unusual at this size, and more flexible than a standard industrial shell.
There is roughly 467 m² of building on 890 m² of land, with effectively two road frontages: one from the formal end of Earl Drive, the other from the service lane linking Earl Drive to Wedgewood Street.
Three separate tenancies currently return NZ$63,815.66 per annum plus GST. At the asking price of NZ$849,000, that is a 7.5% return, in a part of town where industrial leasing demand has been consistent.
The configuration also suits redevelopment over the medium to longer term — two frontages would support good-quality tenancies with independent access — while the current tenancies carry the holding income in the meantime.
Areas are approximate and taken from the marketing material. Prospective purchasers should make their own enquiries.
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Property Highlights
- Industrial unit, three tenancies
- Strong holding income
- Redevelopment potential longer term
- Strong provincial town
- Two road frontages
- Formerly the Katikati Dairy Company