Acquisition Settled - 5 Beach Road

rrr is pleased to confirm the successful settlement of 5 Beach Road, Favona.

The property comprises a circa 20,262 square metre Heavy Industry zoned site with a slightly irregular shape, situated on the corner of Beach Road and James Fletcher Drive in the Auckland suburb of Favona. The site benefits from extensive street frontage to and access from both roads and is held within a single freehold Record of Title.

Improvements comprise a large industrial facility that was originally constructed circa 1960s, with refurbishments and alterations made to the building since, that currently presents to a dated but functional condition. The accommodation includes a large warehouse, associated offices and amenities, and canopy protected roller doors. The balance of the site provides sealed areas used for yard storage and access, along with car parking for 25 vehicles.

The property is leased to Fletcher Steel on a 15-year lease which commenced 1 August 2016.