Penrose, Auckland City

Well-established occupier that has invested significantly in its operationLong-term lease returning a net rental of $511,050pa + GSTCPI-based rental growth mechanism and bank guarantee in placeFreehold standalone industrial buildingsExcellent central isthmus location, close to all transport links An entrenched tenant that has been in occupation since 1995, with significant improvements having been made to support its manufacturing business. The tenancy covenant enhances the investment profile with a continued expectation oflong-term occupation.Comprised within two standard warehouse structures, one of which is substantially open to provide storage and distribution. The adjoining structure is more intensively developed with improvements over two levels comprising lab spaces, specialist manufacturing areas, staff amenities and office accommodation.An established and sought after industrial location in the centre of Penrose and close to Auckland's motorway network.