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Industrial VPT
20 Mahunga Drive, Mangere, New Zealand
Description
Large scale manufacturing facility built in 1967 with various additions and extensions. The main warehouse has 5m clearance and a saw tooth profile. The property includes ancillary office space.
The property is located in a tightly held suburban location within a mixed use area with good access to major arterial routes. Similar investment opportunities are highly sought after.
Location
Located within a small industrial manufacturing precinct situated between the traditional industrial areas of Onehunga and the airport. Manukau is 15km south of Auckland CBD and the suburb includes lower socio economic housing.
Key Information
- Ownership VPT - VCML as trustee for NZPPT
- Acquisition 2/7/2007
- Purchase Price ($,000) 28,105
- Book Value ($,000) 28,200 (at 31/12/07)
- Independant Valuation Date 2/4/2007
- Independant Valuation ($,000) 27,579
- Independant Valuer CBRE
- Valuation Cap Rate 7.25%
-
Net Lettable Area
Other: GBA - 27,204 sqm
- Car Spaces on grade
- Occupancy as at 31/12/2007 100%
- No. Of Tenants 1
- WALE as at 31/12/2007 8.8 years
- Rent Review Structure Fixed 3% increases and market reviews
Contact Details
- Jay Spong
- +61 2 8257 6663 or 0400 465 470
- jay.spong@valad.com.au