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All roads lead to Penrose as leading car dealership site goes up for sale

All roads lead to Penrose as leading car dealership site goes up for sale

The substantial industrial-zoned property housing a dealership for New Zealand’s biggest used car seller has gone up for sale in one of Auckland’s most sought-after locations.

The Turners Cars branch at 1000-1008 Great South Road occupies a sealed and secure freehold site of approximately 7,131 square metres with extensive frontage to a key Auckland arterial route in industrial Penrose.

With more than 50 years in business, the NZX-listed Turners Automotive Group has established itself as New Zealand’s largest seller of cars, trucks and machinery. With 30 branches across the country and a significant web presence, the company employs nearly 500 staff and buys and sells thousands of vehicles each year.

Turners Cars has been voted New Zealand’s most trusted used car dealer in each of the past two years.

The site housing its Penrose branch returns rental income of $176,400 plus GST per annum on a current lease which runs through to 2022, with a further four-year right of renewal and built-in CPI rent increases.

Colliers has been exclusively appointed to market 1000-1008 Great South Road, Penrose, Auckland, for sale by deadline for offers closing at 4pm on Wednesday 28 July, unless it is sold earlier.

Hamish West, Industrial Director at Colliers, says the property encompasses a sealed yard of some 5,850 square metres, with space for more than 200 cars, plus a small warehouse/office.

“The approximately 130-square metre building housing the warehouse and office sits to the rear of the site on the southern side. Also attached to this building is a small portacom office, which is owned by the tenant and not part of this offering,” says West.

Access to the site is via one of two entrances off Great South Road.

“With some 82m of frontage to this busy arterial route, the site benefits from huge exposure with nearly 30,000 cars passing daily, making it one of the most sought-after commercial and industrial locations in Auckland,” West says.

“In addition to being occupied by a top-shelf tenant, this offering presents investors with the chance to secure much south-after industrial land with significant future redevelopment potential in a prime Penrose/Mt Wellington location. Being positioned within central Auckland, where available industrial property is a scarcity, will ensure this site is in hot demand.”

Ben Herlihy, Industrial Director at Colliers, says the Great South Road property spans three freehold titles, making it ideal for long-term development for larger-scale industrial activities consistent with its zoning for heavy industry under the Auckland Unitary Plan.

“Penrose has long had a reputation as an engine room of industry, with the Penrose/Onehunga area estimated to generate around 8% of Auckland’s GDP. The area surrounding the property for sale is home to numerous prestigious brands such as Mercedes, Repco, Recall, Aggreko, BOK Gas and Fletchers,” says Herlihy.

Paul Higgins, Industrial Director at Colliers, says the site’s credentials were further bolstered by its position close to the region’s major railway line and motorway network.

“With State Highway 1 just 1.1km away via Church Street or 1.3km via Mount Wellington Highway, the site has great access to the CBD, airport and inland ports.

“An abundance of amenities is also accessible nearby, including New Zealand’s largest shopping centre about five minutes’ drive away at Sylvia Park,” says Higgins.


Related Experts

Hamish West

Director | Industrial

Auckland South

With more than twelve years of experience in the commercial and industrial property sector, Hamish has been involved in a significant number of industrial property projects in Auckland and across New Zealand. During this time he has been responsible for the sale of more than $1.4B worth of industrial assets, in addition to providing leasing and design build solutions totalling more than 660,000m² for a range of major local & international occupiers.

Career Success

Hamish has proven to be a consistent and highly effective broker and in 2012 & 2015 was awarded with the Colliers National MVP Award for Brokerage Excellence, and 2015 saw him achieve the ranking of 6th highest revenue earner in Colliers nationally.

Market Specialisation

Hamish specialises in the sale and leasing of high value assets in the South Auckland Property market and has been involved in many projects including:

  • Sale and leaseback transactions
  • Tenanted Investment sales
  • Receivership sales
  • Vacant possession sales
  • Development property sales
  • Land sales
  • Vacant building leasing
  • Design build leasing
  • Tenant property sourcing
  • Purchaser property sourcing

Hamish has done a significant portion of his work with both private clients and corporate clients including Goodman, PFI, Broadway Developments, Southborne Holdings, Stride, Kiwi Income, Auckland Airport, Norak Properties, JKGL Group, Samson Corporation, Southpark Corporation, Quadrant, Location Group, Argosy, Windward Properties, and Depot Investments to name a few.

Recent occupiers include Bunnings, GPC (Repco), GUD, Ricoh, Ideal Electrical, Crown, Sirva, Wedderburn, GEA Process Engineering, Delmaine, Siemens, Hydraulink, Verifone, Sistema, Tyco, Bunnings, Fletchers, PMA Global, Compac Sorting Equipment, and many other SME businesses.

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Ben Herlihy

Director | Industrial

Auckland South

With more than 15 years’ experience in the commercial and industrial property sector, Ben has been involved a vast number of industrial property projects throughout Auckland and across New Zealand. During this time he responsible for the acquisition and disposal of in excess of $250M worth of industrial assets, in addition to providing leasing and design build solutions for a range of major local & international occupiers.

Recent clients include Daikin, Liebherr, Downer EDI, Konnect, RCR Infrastructure, Bluestar Group, The Public Trust, Roche Pharmaceuticals & Tyco international.  

In addition to Colliers International commitments and initiatives to giving back to the communities in which we live and work, Ben is also a senior member of the Clevedon Fire Brigade and coaches kids cricket.

His professional know-how stems from an extensive career in industrial property. Ben is able to advise on design-build, project leasing, tenant representation, property disposals and contract negotiation.

 

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Paul Higgins

Director | Industrial

Auckland South

Paul joined Colliers in 2005 working in Auckland's industrial team specialising in the mid to upper end sales and leasing market. Paul has also spent a couple of years working for Colliers in the Central and Eastern Europe market where he was Director of Poland's Krakow office. In 2010 Paul returned to Auckland to again work in Auckland's industrial market.

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