5 – 21 Beach Road, Otahuhu, Auckland
Well located heavy industrial property with long term leases to established tenants
5 Beach Road is leased to Fletcher Steel, New Zealand’s leading importer, distributor and processor of steel, with over 10 years remaining on its current lease term. 21 Beach Road is leased to Pacific Steel, New Zealand’s only manufacturer of wire rod, reinforcing bar and coil products on a 7 year term expiring in June 2026 with the benefit of fixed 2.5% per annum annual rent reviews.
These large freehold industrial assets are part of the Centuria NZ Industrial Fund property portfolio.
The above stats are as at 31 March 2023