43-45 Johnston Way, Whakatu, Hastings

Go long on industrial

• Main building high-stud single-span
• Tenant major Australasian corporate
• Strategic location
• Significant rental upside

This building is principally a large, modern, single-storey and single-span warehouse (over 80% of the building) with an estimated construction date of circa 2004. Five metre stud at elbows with the balance divided into seven bays with stud height of 3.8 metres.

Located in the expanding industrial area of Whakatu, near neighbours include Carter Holt Packaging, Number 1 Shoe Warehouse (National Distribution Centre) and Etika Dairies Limited. The tenant is owned by Lempriere Group of Australia.

Rental is set at a low rate, well short of the estimated market rent. In addition to the main lease, there is a small lease of $5,000 per annum.