Prime investment in Invercargill

Two Invercargill commercial properties with national tenants are on the market

Two prime Invercargill industrial properties have been placed on the market offering investors security of income with established anchor tenants. Colliers International Otago Director Mark Simpson is marketing 1 and 5 Liddel Street for sale by Deadline Private Treaty with colleague Rory O’Donnell. Simpson says the modern, high quality buildings are leased to national tenants Smith & Smith Glass and Ideal Electrical respectively. “Both properties are occupied by big name national players and both have a current annual contract rental of $70,000 + GST + outgoings.” The neighbouring freehold properties will be offered for sale individually. The properties are located on Liddel Street, near the Leven Street intersection in the heart of Invercargill’s commercial district and enjoy excellent exposure to passing traffic. Simpson says the location will be a draw card for investors. “The site already commands great street appeal and with a proposed Kmart setting up across the road this is only going to get better.” 1 Liddel Street contains a warehouse and office/ amenity space measuring 670m2 with a land area of 1602m². Off-street car parking is available for 22 cars. The lease in place to Smith & Smith Glass is on a new four-year term with two rights of renewal thereafter. 5 Liddel Street has warehouse and office/amenity space totalling 835m2 and a land area of 1827m². The new five year lease to Ideal Electrical expires in 2021 with a five-year renewal thereafter. O’Donnell says investors are increasingly looking to the regions with industrial stock in these areas becoming more desirable. “Decent industrial stock with good yields is becoming harder to find so we would expect this product to be popular among investors.”