13 Gordon Road - ebook by Colliers Otago

Accelerating success. 13 Gordon Road | Wānaka PRICE BY NEGOTIATION PLUS GST (IF ANY) colliersotago.co.nz/67023952

Introduction

Colliers have been appointed as agents to market for sale

13 Gordon Road, Wānaka.

This property is being offered for sale by ‘price by negotiation’.

All enquiries, requests for information and arrangements to undertake inspections in relation to this opportunity are to be directed to the sole agents.

This information Memorandum provides preliminary information to assist interested parties with their assessment of the property. Further information is available via an online data room available on request.

Geoff McElrea +64 27 577 9607

geoff.mcelrea@colliers.com

Data room documents available:

• Certificate of Title

Introduction Executive Summary 2 5 Investment Highlights 7 Location 11 Wānaka Market 12 The Building 13 Certificate of Title 14 Due Diligence 17 Contents 3

Location indicative only 4

Executive Summary

Address

13 Gordon Road, Wānaka

Description

The property provides a 595m2 rear site with a circa 1980’s built workshop that has been partitioned into two separate areas along with a separate one bedroom flat.

Tenure Freehold

Legal Description Lot 1 DP 24855

Certificate of Title OT 16D/554

Land area 595m2 more or less

Floor Area

Approximately 123m² of warehouse/workshop and flat of approximately 60m2

Local Authority

Queenstown Lakes District Council (QLDC)

General Industrial and Service under QLDC proposed District Plan

Zoning

Industrial B Zone under QLDC Operative District Plan

Lease’s Vacant possession

Outgoings (22/23) Approximately $4,081 plus GST (if any).

Rateable value $770,000

Sale Process Price by negotiation

Investment Highlights 7 Well suited for owner occupier Well located within an established industrial location OWNER OCCUPIER EXCELLENT POSITION Land area 595m2 REGULAR SHAPED SITE ENTRY LEVEL Entry level freehold Industrial property Plenty of on site parking on gravelled yard area ON-SITE PARKING Income from both the flat and workshop DUAL INCOME

Location indicative only

Location

Zoning

PLANNING SCHEME: Queenstown Lakes District Council Operative Di strict Plan

ZONING: Industrial A Zone

ZONE OBJECTIVES:

To enable a wide range of activities to establish throughout th e industrial areas and encourage redevelopment within existing business areas by conso lidating these areas. To provide for additional industrial zoned land in areas which wil l not adversely affect existing business activities and is consistent with maintaining the stan dard of amenities in the area.

PLANNING SCHEME: Queenstown Lakes District Council Proposed Dis trict Plan

ZONING: General Industrial and Service Zone

ZONE OBJECTIVES:

To provide for the establishment, operation and long term viabi lity of industrial and service activities. The zone seeks to ensure a range of site sizes are available, including for those industrial and service activities which require larger building s and more space for the purpose of outdoor storage, manoeuvring and parking vehicles in cluding heavy vehicles. The role that ancillary office, retail and commercial activities play in supporting industrial and service activities is recognised and provided for. Activities and development that would not primarily result in sites being used for industrial and service activities are avoided.

The property is well located within an established industrial location situated off the eastern side of Gordon Road. Gordon Road is located off the south western side of Ballantyne Road, a main arterial route in Wānaka.

Wānaka Market

There is good demand from investors for industrial property in Wānaka particularly for property with long term leases in place. There is also good demand for entry level industrial property for owner occupancy/investor purposes. Rents are on the increase and this trend is expected to continue, with rent reviews and new leases being negotiated at higher levels than pre-Covid.

Industrial yields generally sit between 4.75 - 6.00% at present. There have not been many recent industrial transactions within Wānaka and with the higher cost of finance now we are starting to witness a slight recalibration with yields softening from their peaks, however strengthening rental levels are supporting prices.

Industrial land values have grown significantly since the pandemic began, with recent transactions around $750 to $900/sqm and asking prices of up to $1,400/sqm for mixed use land in Three Parks. There are very few titled vacant industrial sites currently available to purchase in Wānaka. There is also a shortage of supply of built industrial premises, with several planned developments looking for tenant commitment prior to commencing construction. Viability of construction is also a challenge, with current market rents below the levels required by developers. Current zoning is a further challenge to the industrial market, with Wānaka likely to experience a significant shortage of industrial premises in the long term unless more land is rezoned.

The Building

The workshop was originally built in the 1980’s with a more recent addition completed circa 2008. It is partitioned into two separate areas.

Construction is predominantly long run iron with some concrete panels, concrete foundations with entry via large sliding doors. Three phase power is provided to the workshop.

The flat was also originally built in the 1980’s and is predominantly clad in Oamaru stone with an iron roof. It provides a large open plan living area with a kitchenette area, separate bedroom and an ensuite bathroom that also includes laundry facilities.

Certificate of Title

RECORD OF TITLE UNDER LAND TRANSFER ACT 2017

Identifier OT16D/554

Transaction ID 637639

Client Reference jkennewell001

FREEHOLD Search Copy Identifier OT16D/554 Land Registration District Otago Date Issued 11 February 1997 Prior References OT9A/271 Estate Fee Simple Area 595 square metres more or less Legal Description Lot 1 Deposited Plan 24855 Registered Owners Arthur Charles Joseph Wood Interests 575054.6 Easement Certificate specifying the following easements - 7.5.1982 at 1.48 pm Type Servient Tenement Easement Area Dominant Tenement Statutory Restriction Right of way Lot 5 Deposited Plan 18076 - CT OT13D/160 A DP 18076 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 Right of way Lot 6 Deposited Plan 19168 - CT OT13D/553 B DP 18076 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 Right of way Lot 7 Deposited Plan 19168 - CT OT10B/882 B DP 18076 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 Right of way Lot 4 Deposited Plan 17967 - CT OT9B/1193 C DP 18076 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 Right of way Lot 3 Deposited Plan 17967 - CT OT9B/1192 D DP 18076 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 Right of way Lot 1 Deposited Plan 21048 - CT OT12D/1574 E DP 18076 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 749956.2 Easement Certificate specifying the following easements - 14.3.1990 at 9.36 am Type Servient Tenement Easement Area Dominant Tenement Statutory Restriction Convey stormwater Lot 3 Deposited Plan 21048 - CT OT12D/1576 A-B DP 21048 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 647667 Easement Certificate specifying the following easements - 27.11.1985 at 10.27 am Type Servient Tenement Easement Area Dominant Tenement Statutory Restriction Right of way Lot 7 Deposited Plan 19168 - CT OT10B/282 A DP 19168 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 Right of way Lot 6 Deposited Plan 19168 - CT OT13D/553 B DP 19168 Lot 1 Deposited Plan 24855 - herein Section 309(1)(a) Local Government Act 1974 924394.2 Resolution pursuant to Section 321(1) Local Government Act 1974 - 11.2.1997 at 10.25 am

Client

Transfer creating the following easements in gross - 11.2.1997 at 10.25 am Type Servient Tenement Easement Area Grantee Statutory Restriction Convey sewage Lot 1 Deposited Plan 24855 - herein E-F-G DP 24855 Queenstown Lakes District Council 924394.12 Easement Certificate specifying the following easements - 11.2.1997 at 10.25 am Type Servient Tenement Easement Area Dominant Tenement Statutory Restriction Drain sewage Lot 2 Deposited Plan 24855 - CT OT16D/555 A DP 24855 Lot 1 Deposited Plan 24855 - herein Section 243 (a) Resource Management Act 1991 Right of way Lot 2 Deposited Plan 24855 - CT OT16D/555 A DP 24855 Lot 1 Deposited Plan 24855 - herein Section 243 (a) Resource Management Act 1991 Convey water Lot 2 Deposited Plan 24855 - CT OT16D/555 A DP 24855 Lot 1 Deposited Plan 24855 - herein Section 243 (a) Resource Management Act 1991 Convey telecommunications Lot 2 Deposited Plan 24855 - CT OT16D/555 A DP 24855 Lot 1 Deposited Plan 24855 - herein Section 243 (a) Resource Management Act 1991 Drain stormwater Lot 2 Deposited Plan 24855 - CT OT16D/555 A DP 24855 Lot 1 Deposited Plan 24855 - herein Section 243 (a) Resource Management Act 1991 Convey electricity Lot 3 Deposited Plan 24855 - CT OT16D/556 M-N-O DP 24855 Lot 1 Deposited Plan 24855 - herein Convey electricity Lot 2 Deposited Plan 24855 - CT OT16D/555 A DP 24855 Lot 1 Deposited Plan 24855 - herein Section 243 (a) Resource Management Act 1991 Convey electricity Lot 2 Deposited Plan 24855 - CT OT16D/555 B DP 24855 Lot 1 Deposited Plan 24855 - herein Section 243 (a) Resource Management Act 1991

Transaction ID 637639

Reference jkennewell001 924394.9

Identifier OT16D/554

Due Diligence

To assist in the assessment of this offering, comprehensive due diligence information is available via a secure documents link. For access to all documents please register your interest with one of the agents.