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Bankable bottom drawer industrial investment up for grabs in Henderson

Bankable bottom drawer industrial investment up for grabs in Henderson

A standalone industrial unit with a sought-after mix of warehouse and office space and a longstanding tenant covenant is for sale in Henderson providing all the fundamentals of a bankable bottom drawer investment for discerning buyers.

On offer is a 1,171 sqm unit with approximately 65 per cent of the total area in warehousing plus recently refurbished offices, a workroom and mezzanine-level storage.

The stratum in freehold title building has light industrial zoning and benefits from ample car parking as well as dual driveway access.

The property at 3/133 Central Park Drive in Henderson will go to auction at 11am on Wednesday May 5, unless sold prior.

Colliers Director Matt Prentice who is marketing the property with colleagues Jack Tuson and Dhiru Patel says it will appeal to investors looking to add a low-maintenance, profitable property to their portfolio.

“This stratum in freehold, standalone industrial unit is an exceptional find, allowing investors to capitalise on a new 6-year lease term, as Auckland’s industrial vacancy rate remains near record lows.

“Henderson’s industrial precinct is particularly sought after by occupiers, demonstrated by vacancy that continued to fall throughout 2020.”

The prime industrial vacancy rate in Henderson is now at 1.6 per cent, which is down from 2.2 per cent in August 2020, according to Colliers Research.

Tuson says the tenant covenant makes for an outstanding passive investment.

“The property is leased to Larsen & Best Limited and returns $150,000 net per annum plus GST and operating expenses.

“Larson & Best are a New Zealand owned and operated print finishing business that has provided top quality products and services to the market for over fifty years.

“They have operated from this property for the last forty years and have recently signed a new six-year lease with fixed rental growth.

“The new lease term runs through to March 2027 with a further two four-year rights of renewal giving a final expiry date of 28 February 2035.”

West Auckland Industrial specialist Patel says that Henderson is popular with occupiers due to the amenity in the area and connectivity to the rest of Auckland.

“Henderson is a prime West Auckland location that is characterised by a mix of modern developments catering for a range of light manufacturing and warehousing activities as well as retail and commercial businesses.

“It is popular with occupiers due to extensive amenity in the local area from Henderson Central as well as proximity to Lincoln Road, WestCity Waitakere mall and NorthWest Shopping Centre.

“Henderson is also well connected to the rest of Auckland being just 15kms from the CBD and having easy access to the South through the Waterview Tunnel and the North Shore via State Highway 18.

“Located on a main arterial route within one kilometre from motorway on-ramps, this property boasts particularly easy accessibility.

“Despite being an already well-established industrial location, Henderson has been earmarked as one of 10 key metropolitan centres in the Auckland Plan meaning it will continue to grow.

“Extensive urban development is expected over the next 30 years as Panuku Development Auckland leads the council’s regeneration project with plans to develop several of their owned sites in the area.

“These factors will ensure Central Park Drive remains a premium industrial location as the city grows around it.

“This functional industrial building with a high-quality tenant is expected to attract strong interest from discerning investors looking to secure a foothold in a prime west Auckland location.”

Related Experts

Matt Prentice


Auckland North

Matt joined Colliers International in 2006 with a focus on mid to upper end industrial & investment transactions.  Specializing in tenanted investments, occupier representation through to vacant land / building sales on the North Shore, Matt was promoted to a North Shore Director in 2015.

In 2011 and 2012 Matt was awarded the “Golden Gavel” for Colliers New Zealand as the most successful auction sales broker across Colliers New Zealand. Matt has been the number one North Shore sales and leasing broker, 2011, 2012 and 2013.  In 2012, was a top 20 performer across Colliers New Zealand and has over $600 million of sales since joining colliers International.

In 2013, Matt was in the top 10 Highest Performing Brokers Nationwide and in 2014, he had a record year completing more than 50 transactions, and  finished in the top 10% of brokers in New Zealand.

In 2015, Matt completed over 60 transactions, more than any broker North of the Bridge, again finishing in the Top 20 brokers in New Zealand.

In 2016, Matt had a record year finishing top 10 in the country and was the top broker on the North Shore.

In 2017 Matt finished in the top 5 brokers in New Zealand, and completed over 70 transactions.

In 2018 he finished in the top 10 brokers in New Zealand and completed over 120 transactions. Matt was awarded the MVP of brokerage for Colliers International New Zealand.

In 2019 Matt finished in the top 5 brokers in New Zealand and achieved the “Golden Gavel” as the highest performing “Auction Broker”. Again, he completed over 100 transactions.

2020 was a record year, selling over $250 million of stock, with 99 deals in total for the year. Matt finished as the 4th highest performing broker in NZ.

Recent Transactions include:

  • 13 William Pickering Drive, North Harbour - $17,300,000

  • 7-19 Croftfield Lane, Wairau Valley - $17,280,000

  • 6 Canaveral Drive, Albany - $13,000,000

  • 44 Arrenway Drive, Albany - $15,300,000

  • 2c William Pickering Drive. North Harbour - confidential

  • 180-184 Target Road, Wairau Valley - $13,000,000

  • 71 Apollo Drive, Albany - $17,550,000

  • 124 Bush Road, North Harbour - $14,950,000

  • 229 Dairy Flat Highway, Albany - $33,000,000

  • 34-41 Poland Road, Wairau Valley - $15m circa

  • 1-11 Parkway Drive, Albany - $21,000,000

  • 44 Arrenway Drive, Albany - $15,300,000

  • 30 Apollo Drive, Albany - $12,942,000

  • 155 Wairau Road, Wairau Valley - $11,500,000

  • 53 Paul Matthews Road, North Harbour - $5,610,000

  • 7 Armstrong Road, North Harbour - $7,400,000

View expert

Jack Tuson


Auckland North

Jack specialises in the Auckland industrial market, servicing both the leasing and sales markets. Jack has a particular focus on the North Shore region where he has formed strong relationships with property owners, buyers and tenants.

He has experience in the divestment of both tenanted and vacant industrial buildings, and has handled numerous occupier requirements.


View expert

Dhiru Patel

Broker | Industrial

Auckland South

Dhiru began his early career as a Tax Consultant for KPMG Tax & Advisory services, following a Bachelor of Commerce from the University of Auckland. After two years at KPMG he returned to the University of Auckland to complete a Bachelor of Property and Valuation, where he found his real passion in property.


After a brief stint at Goodwin Property Management, he started with Colliers International in late 2011 as the Industrial Information and Systems Manager for the Highbrook-based Industrial division. In 2012 he we went on to be awarded the Colliers MVP for Team Support, for his work assisting the brokerage team in Highbrook.


In early 2014, Dhiru became an Industrial Sales and Leasing Broker; the position he currently occupies today. He specialises in his local area of West Auckland and his expertise lies in Brokerage: Predominately Industrial Sales and Leasing including Investment Sales, Tenant Representation and Land Sales.


Dhiru is a Sales and Leasing Industrial Broker who forms a crucial part of the Colliers International Industrial division in Highbrook, Auckland. His clients and colleagues alike, describe his energy and enthusiasm for work as a real asset, and a unique quality that sets him apart. Since joining Colliers 7 years ago, he has transacted a wide range of sales and leasing deals. Listed below are the more recent, notable transactions.

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