15 Year Net Lease

Negotiation

110 Hutt Road Kaiwharawhara

Listing # 1476857Q1 Listed 14 Feb 2017

CBRE (Agency) Ltd (Licensed: REAA 2008) - Wellington's logo
CBRE (Agency) Ltd Wellington

Licensed: REAA 2008

15 Year Net Lease
  • 15 Year Net Lease
  • 15 Year Net Lease
  • 15 Year Net Lease
  • 15 Year Net Lease
  • 15 Year Net Lease
  • 15 Year Net Lease
  • 15 Year Net Lease

About this property

CBRE New Zealand is proud to present 110 Hutt Road, Kaiwharawhara, Wellington for sale. 

The offering comprises a functional, medium stud workshop with large concreted yard area and modern offices. The property has been extensively redeveloped for NZ Bus, a public transport company and the largest operator of urban bus services in New Zealand. The entire property is subject to a 15 year net lease from 1 August 2015 with two yearly CPI plus 2% rental increases.

The property is located on the eastern side of Hutt Road and the western side of the Wellington urban motorway. It is situated approximately 100 metres south-east of the Hutt Road and Kaiwharawhara Road intersection.

Given the quality of this offering, CBRE strongly recommends your early consideration of this outstanding investment opportunity and encourages motivated purchasers to get in touch without delay. 

Property Highlights:

15 year net lease to NZ Bus (Parent Company - Infratil)
3,843sqm freehold land parcel
NLA 1,452.4sqm plus 2,767sqm hardstand concrete yard
Two yearly CPI plus 2% rental increases
High profile investment property
Strong underlying land value
Good access to SH1, SH2 and the Wellington CBD
Future redevelopment potential on lease expiry
Refurbished and air-conditioned offices above depot
Passing net income $660,603pa plus GST


Sale by Deadline Private Treaty closing Thursday 16 March at 4pm (unless sold prior).

View more details at CBRE

Key Features

Predominant m2
3843
Include SAV
N
Include GST
N


Enquire about this property


Agent
CBRE
L12 ASB Tower, 2 Hunter Street
WELLINGTON
Matthew St Amand
Rick Stace photo
Agent
CBRE
L12 ASB Tower, 2 Hunter Street
WELLINGTON
Rick Stace

Commercial for Sale Investment Opportunities

  • 3,843 m2 Floor

Agents Details

Agent
CBRE
L12 ASB Tower, 2 Hunter Street
WELLINGTON
Matthew St Amand
Rick Stace photo
Agent
CBRE
L12 ASB Tower, 2 Hunter Street
WELLINGTON
Rick Stace