15 John Seddon Drive, Todd Park, Porirua

As the former site of the Mitsubishi Manufacturing plant, this property has been redeveloped and now has ten tenants. With a recent re-roof completed at the beginning of 2016, coupled with the location being in a area of Wellington with a low-vacancy rate, this property has increased significantly since purchase.

9.25%

pa

Cash return pre-tax, paid monthly

Purchase Price: $36,000,000

Purchased on 28 September 2015

Return: 9.25%

Tenants: Conroy Removals Ltd, Hexatronic, Fletcher Distribution, Wellington Electricity Lines Ltd, Mitsubishi Motors NZ Ltd, Downer NZ Ltd, Fusion Workplace Services Ltd, NZ Post Ltd, Anderson and Flowers Ltd, He Whanau Manaaki o Tararua Free Kindergarten Association Inc., Hannah and Co Ltd

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