52-54 Grant Road is currently under development into a new purpose-built industrial facility with a long lease to one of New-Zealand's best-known tourism brands. Located in tightly held Frankton, the property will feature a new customer service centre, workshop and vehicle storage for rental car operator JUCY Rentals.
The generous 5,726m² freehold site is situated within the sought-after Five-Mile precinct in Queenstown, amongst various other multi-national and national tenants on long leases.
Commercial & industrial zoned land is in short supply in the Queenstown area; this is a rare industrial land holding underpinned by a long term national tenant. JUCY have committed to a new 10-year lease term from completion and settlement with a net annual rental of $585,060 and fixed annual growth set at 3%.
The site location paired with the lease profile provides an investor with stable income and future potential value-add opportunities. On completion, the property will consist of high quality customer service centre and associated workshop/vehicle preparation accommodation with a total floor area of 840m² along with circa 4,800m² of parking and yard space. A highly functional and well thought out site plan ensures maximum productivity and future flexibility in the long term for a variety of users.
This is a hugely attractive passive investment strengthened by an under-developed site allowing for further development in the future.
Please contact us today for a detailed Information Memorandum which includes: Investment Highlights, Lease Terms, Tenancy Profile, Market Trends, Property Insights, Zone Overview, Sales Process.