Key features:

• Current ground rent returning $796,277pa net + GST

• 220% ground rental increase at the last review

• 1.2953ha of freehold land in Central Penrose

• 21-year perpetually renewable lease term

• Ideally located near State Highway 1 and State Highway 20

This rare Lessor's Interest presents a solid, low-maintenance income stream with no CAPEX requirements. With its strategic location, central industrial land with income like this is the ultimate long-term investment opportunity.

At the last rent review, the ground rent escalated from $248,250 to $796,277 per annum, a substantial 220% increase.

This sizable 1.2953ha site, zoned Light Industrial, offers over 150m of frontage on Maurice Road. Land with scale, perfectly placed in the heart of Auckland's industrial hub, is tightly held and rarely repeatable in Auckland's constrained Industrial landscape.

For more information, contact the sole agents below:

Sunil Bhana

+64 21 938 660

sunil.bhana@bayleys.co.nz

Greg Hall

+64 21 023 21884

greg.hall@bayleys.co.nz

James Valintine

+64 21 023 71868

james.valintine@bayleys.co.nz

Scott Campbell

021 414 107

scott.campbell@bayleys.co.nz