Port legacy ground leases on market in Napier
Thirty-three leasehold industrial properties in Napier are among some of the more unusual offerings to come to market there recently.
Corunna Bay Holdings and Iron Pot Investments are associated with a group of investors which is offering approximately 365,000sqm of industrial and mixed use zoned land for sale.
The ground lease properties were once owned by Napier port and sold to private investors a few years ago.
Investors will calculate the income they expect to return over their period of ownership. The current net rental is approximately $2.5 million a year.