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Penrose

2-8 Maurice Road, Penrose, Auckland

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1.30 ha Land area SQM

Lessor's interest prime Penrose investment


Key features:
• Current ground rent returning $796,277pa net + GST
• 220% ground rental increase at the last review
• 1.2953ha of freehold land in Central Penrose
• 21-year perpetually renewable lease term
• Ideally located near State Highway 1 and State Highway 20

This rare Lessor's Interest presents a solid, low-maintenance income stream with no CAPEX requirements. With its strategic location, central industrial land with income like this is the ultimate long-term investment opportunity.

At the last rent review, the ground rent escalated from $248,250 to $796,277 per annum, a substantial 220% increase.

This sizable 1.2953ha site, zoned Light Industrial, offers over 150m of frontage on Maurice Road. Land with scale, perfectly placed in the heart of Auckland's industrial hub, is tightly held and rarely repeatable in Auckland's constrained Industrial landscape.

For more information, contact the sole agents below:

Sunil Bhana
+64 21 938 660
sunil.bhana@bayleys.co.nz

Greg Hall
+64 21 023 21884
greg.hall@bayleys.co.nz

James Valintine
+64 21 023 71868
james.valintine@bayleys.co.nz

Scott Campbell
021 414 107
scott.campbell@bayleys.co.nz

For Sale by Deadline Private Treaty
(unless sold prior)

2 Harris Road, East Tamaki

27
Nov

Time4pm
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Sunil Bhana

Sunil Bhana

Director - Capital Markets, Industrial and Logistics

Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008
Greg Hall

Greg Hall

Commercial and Industrial Sales and Leasing

Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008
James Valintine

James Valintine

Industrial Sales and Leasing

Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008

Features

Lease


Perpetually renewable 21-year lease term

Land area breakdown


Significant 1.2953ha freehold landholding in Central Penrose

Occupancy


Lessor's Interest returning $796,277pa net + GST

Zoning


Business - Light Industrial

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