Longstanding Carters Henderson site offers low site coverage
The 1.186ha property at 141 Central Park Drive, Henderson, offers a massive 4,425sq m yard and very low site coverage of 28 per cent.
It is superbly positioned in the heart of the Henderson industrial precinct, only 500m from Lincoln Road and 750m from the State Highway 16 interchange.
The property has been occupied since 1995 by Carters, the trade retail subsidiary of well-known New Zealand timber company Carter Holt Harvey.
The company has committed to a new three-year lease from 1 October, returning $554,117 plus GST in net annual rent.
A market rental review, capped at 10 per cent, is due to take place upon renewal for a further three-year term.
Colliers International has been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Thursday, 10 October, unless it is sold earlier.
Josh Coburn, West Auckland and Site Sales Director at Colliers, says it is a chance to secure a substantial and superbly located industrial investment with plenty of potential for future upside.
“The site is located parallel to the motorway on Central Park Drive, in the heart of the Henderson industrial precinct.
“Situated within a limited body of land between Henderson Creek and a substantial residential catchment to the north, the area has limited development opportunities.
“In our view, there are none as well-located or as easy to redevelop as the site for sale.”
Industrial Director Matt Prentice of Colliers says Central Park Drive contains a multitude of amenities including many major retailers, schools and Waitakere Hospital.
“The location has unrivalled access to central, northwestern and northern areas, thanks to significant infrastructure investment in recent years.
“Notable developments include the recently completed Western Ring Route via the Waterview Tunnel, and the growth of Westgate as a metropolitan centre of Auckland.
“These factors will ensure Central Park Drive remains a premium industrial and retail location as the city grows around it.”
The Business Light Industry zoned site contains two large industrial buildings; the front building provides showroom and bulk trade retail, while the rear building is a more conventional warehouse.
A smaller moulding store building brings the total net lettable area to some 3,768sq m.
The trade retail area provides a functional open plan space, predominantly with a high stud height. Entry is via a canopy and automated doors at the front corner.
The bulk warehouse adjoins the trade warehouse, with vehicle access available from both the front and rear elevations. This enables drive-through loading and unloading.
The building also has two floors of office space. The ground floor includes a reception area while the first floor has multiple office areas, a spacious lunchroom and separate bathroom facilities.
The moulding store building is a canopy-like structure between the front and rear warehouse. It is open-sided to the frontage with a medium stud height.
The rear warehouse comprises a pre-cut factory. It is a typical medium stud warehouse structure with numerous roller doors.
The large, functional concrete-sealed yard is gently contoured and fully security fenced or bounded by adjoining buildings.
Carter Holt Harvey is one of New Zealand’s best-known companies. Formed in 1986, it was listed on the New Zealand stock exchange until 2005, when it was taken into private hands.
The company is now owned by Rank Group Investments Limited, controlled by New Zealand’s wealthiest man, Graeme Hart.
The company employs some 5,000 people and has annual revenue of about $2 billion. It operates four timber mills in New Zealand, two in Australia, and nine frame and truss plants.
Trade retail arm Carters has some 50 outlets in New Zealand selling a wide range of products targeted at builders.