A Mount Wellington industrial warehouse on solid lease to a wholesaler of quality ergonomic seating is on the market through Colliers International.
The 2,749sq m freehold industrial investment opportunity at 3 Donnor Place is being marketed by Paul Higgins and Hamish West for auction on Wednesday, 12 April unless sold prior.
Tenant Buro Seating Limited Partnership is on a six year lease returning $237,000 net plus GST per annum, with two, three-year rights of renewal.
Buro Seating has offices in Auckland, Christchurch and Brisbane and is set for further expansion across Australia.
West says reputable and well-established tenants like Buro make attractive investment opportunities.
"Buro is a leader in the field, with over 20 years’ experience in the ergonomic seating industry producing quality products and services," he says.
"Proud recipients of the Office Products Depot Supplier of the Year and Staples Australia supplier of the year Awards 2016, Buro is recognised for their success in the field."
"They are undeniably set for multinational expansion."
West says Donnor Place is conveniently located in the popular and well sought after location of Mount Wellington, offering access to all areas of Auckland.
Mount Wellington is an established industrial location bounded by other predominantly industrial suburbs of Penrose and Onehunga, both of which have experienced a growth in popularity and improved infrastructure.
Higgins says the recent South Eastern Highway arterial development, the development of Pacific Rise Business Park and the redevelopment of the Vesley Drive industrial area indicates the current boom of the location.
"The recently completed Sylvia Park Shopping Centre is another reason for the popularity of the area," he says.
"Several modern design-build industrial units have been completed on previously vacant sites together with trade retail developments.
"There is evident shortage and increasing demand for similar sites in the Eastern Bay area, close to the Auckland CBD."
3 Donnor Place is close to one of Mt Wellington’s main arterial routes, Carbine Road, allowing easy access to the SH1 with the Mt Wellington interchange located within 2.5km of the property.
West says that in addition to its in demand location, the property’s recent refurbishment adds to the already exceptional offering.
"This is a high quality property that enjoys clear-span, concrete block and steel frame construction with a 7m stud height," he says.
Strategically designed over two levels, the 445sq m office and showroom has been recently refurbished to a very high standard allowing for open-plan, partitioned layout.
The property has high quality glass partitions, a modern colour scheme, polished concrete floors in the showroom and modern colour scheme on the external façade, the warehouse is a hassle-free option for investors.
West says all the work has been done, it’s a truly hands off investment.
"It ticks all boxes: A freehold tenure, Mt Wellington location, is recently refurbished amid long term lease with reputable tenant set for international growth," he says.
The site itself is well-structured with truck access, room for containers as well as 18 staff car parks located both at the front and to the side of the building.