A central Taupo site with development consent and a partially developed industrial site, also with development potential, have been sold by Bayleys agents.
South of the Bombays
Central North Island
69 Paora Hapi St:
Features: 1113m² site, corner of Titiraupenga St, 114m² office premises, resource consent to build new 2-level office building valid until July 2022, leased for 3 years to May 2021 plus 1 3-year right of renewal, lease has an early termination clause
Rent: $34,000/year net + gst
Outcome: sold for $685,000 at a 4.96% yield
Agents: Gary Harwood & Lisa Christensen
132 Rakaunui Rd:
Features: 11,250m² partially developed industrial site in the established Taupo heavy industrial environment, 1080m² of warehousing/sheds, office structures, leased to specialist well solutions business Western Energy Services Ltd for 2 years to December 2020 plus 3 2-year rights of renewal, development potential
Rent: $80,100/year net + gst
Outcome: sold for $1.4 million at a 5.72% yield
Agent: Gary Harwood
Attribution: Agency release.