A large, A-grade industrial warehouse near Auckland Airport which is leased to an ASX-listed logistics company has been put up for sale for the first time.
The modern high-stud, clear-span warehouse with offices and chiller facilities, is positioned on one of only six corner sites in the established Airport 1 industrial precinct, within 2km of Auckland International Airport.
The freehold property for sale at 74 Richard Pearse Drive is leased to Wiseway Logistics, an Australian-based transport and logistics operator which provides extensive services in Australasia and globally. Wiseway caters for all aspects of international forwarding and logistics, including sea and air freight, customs clearance, transportation, warehousing and distribution.
Wiseway’s tenancy at the Richard Pearse Drive site generates net rental income of $432,938 plus outgoings and GST per annum. Its current lease runs through to 2025, with two further three-year rights of renewal. The lease features built-in annual CPI rent reviews, with market reviews at every third anniversary, plus a six-month bank guarantee.
Colliers has been exclusively appointed to market 74 Richard Pearse Drive, Auckland, for sale by deadline for offers closing at 12pm on Wednesday 7 July, unless it is sold earlier.
Brad Johnston, Industrial Director at Colliers, says the building has a net lettable area of some 3,116sq m and sits on approximately 5,416sq m of freehold land with ample on-site car parking.
“This is a modern industrial facility with offices across the front elevation and a high-stud warehouse with small chillers and environmental loadout areas to the rear.
“The front entrance opens to the reception foyer, with a concrete stairway leading to the upper level. The office layout is predominately open-plan, with three managers’ offices and a general office with a central partition.
“The balance of this level houses amenities linking to an attractive covered courtyard area with motorised sunshade, a server room and a boardroom with sliding-door access. The entry and first-floor offices have a combined area of some 372sq m,” says Johnston.
“The clear-span warehouse of some 1,628sq m has a 10m stud height. Translucent panelling in the ceiling provides the interior with plenty of natural light and this is supplemented, when required, with energy-efficient hanging fluorescent tubes.
“The warehouse walls are precast concrete, supporting a steel-portal structure which is built on concrete floor foundations. Three roller doors provide entry points for vehicles, opening to a large canopy of over 600sq m. The site is highly functional, allowing full drive-around fenced access, with primary access to the property from Richard Pearse Drive,” Johnston says.
Paul Jarvie, Industrial Director at Colliers, says the site’s Business – Light Industry zoning under Auckland Council’s unitary plan allows for a variety of industrial activities that do not produce objectionable odour, dust or noise.
In addition to logistics, these include light manufacturing, production, storage, transport and distribution.
“Positioned on the corner of Richard Pearse Drive and Airpark Drive, this property sits in the heart of a well-established hub of industry which is experiencing significant growth. Auckland Airport is considered a premium industrial location and property in the vicinity is tightly held.
“The area is a stronghold of medium to large-format industrial buildings, with near neighbours of the site for sale including the likes of Synlait, Mondiale, Hellmann Worldwide Logistics, DHL, Mainfreight and other key logistics and transport operators.”
The Richard Pearse Drive site benefits from a connection directly into The Landing, an award-winning business park catering to the logistics, technology, and light industrial sectors, says Jarvie.
“In addition to its proximity to the airport, this location also has ready access to Auckland’s motorway network via State Highway 20A, opening up convenient transport connections across the region and beyond.”