Affordable Industrial opportunity in Wanaka

A freehold Wanaka building is for sale with annual rental returns of $60,000+

Colliers international Queenstown is marketing a Wanaka industrial building that boasts multi income and anchor tenants. Fully leased, the freehold 1524 square metre site at 23 Gordon Road generates an annual rental of $61,664.50 a year plus GST & outgoings. Mark Simpson, director of Colliers’ Queenstown office, says the property’s quality tenants are on varying lease terms which will appeal to investors. “This property benefits from strong tenant covenants with national electric and services company Aotea and international infrastructure provider Veolia Water. The fact they are on varied lease terms helps spread the risk making this a smart investment Quality industrial property at an affordable level is difficult to find in Wanaka’s tightly held commercial market” says Simpson. 23 Gordon Road is a good quality, light industrial building located southeast of Wanaka’s town centre in the expanding commercial and industrial area around 3 Parks and Ballantyne Road. The building, completed in 2008, has been well configured into two units each comprising a reception area, lunchroom, toilet, high stud workshop and offices across two levels with internal stair access. The land is zoned industrial and is surrounded by a mixture of industrial and showroom related uses catering to Wanaka’s expanding industrial market. Wanaka is in a continued growth phase with resident population rising 28.4 per cent between the censuses of 2006 and 2013, a growth almost six times that of the national average. As Wanaka continues to grow, so does the demand for commercial space. A combination of low vacancy levels and strong demand has seen rents steadily rise over the past two to three years. Simpson notes “there are currently limited vacancies in the Wanaka commercial and industrial markets. Excess demand has created a shortfall that will continue to place upwards pressure on rentals.” The property has a total lettable floor area of circa 470m² and a yard of 510m² with a total site area of some 1524m². The property also benefits from a second access road to the rear providing alternative access and greater flexibility for tenants.”