Freehold 1.55ha industrial investment in a sought-after location
A substantial warehouse property with harbour views is for sale in Auckland’s sought-after Rosebank Peninsula industrial precinct, offering a solid investment with an established long-term tenant.
Colliers International has been exclusively appointed to market the 1.55ha freehold property at 48 Honan Place, Avondale.
It is for sale by deadline private treaty closing at 4pm on Tuesday, 5 December, unless sold prior.
Colliers International Industrial Sales and Leasing directors Andrew Hooper, Dwayne Warby and Hamish West say it is a rare opportunity to secure a substantial city fringe industrial investment.
“This property is superbly located at the southern end of the Rosebank Peninsula – one Auckland’s best industrial destinations,” Hooper says.
“The peninsula is the closest industrial precinct to the CBD and the Ports of Auckland, and benefits hugely from the new Waterview Tunnel, less than 5km away.
“Limited land supply makes the Rosebank Peninsula one of the most tightly held areas in the Auckland market.”
Hooper says the property benefits from a long-term lease to one of New Zealand’s best-established plastics manufacturing companies.
The lease is currently returning $860,00 per annum plus GST. The current term has nine years remaining, followed by a six-year right of renewal.
Hooper says the property comprises a refurbished warehouse and office building, along with a newly built bulk store, both of which are fully sprinklered.
“The 6,276.1sq m main building was originally constructed in 1996 and extensively refurbished in 2015,” he says.
"It offers a 2,334.6sq m manufacturing facility with a 5.85m stud, and 2,799.7sq m of warehousing with a 9m stud.
“Overlooking the Waitemata Harbour is 877.7sq m of office accommodation over two levels. The remainder of the building comprises decks, a mezzanine lunch area, and canopies.”
Hooper says the 1,904.7sq m bulk store was newly constructed in 2015. It has a stud height of 11m and 403.9sq m of canopy.
Warby says Honan Place is located just off Rosebank Road, giving it superb access to the Northwestern Motorway (State Highway 16).
“The Rosebank Road motorway interchange is less than 5km away, while alternative access to SH16 is offered via the Great North Road interchange at Waterview,” he says.
Warby says the new Waterview Tunnel has substantially reduced travelling times, bypassing the Auckland CBD and providing easier access to the Southern Motorway (SH1) and the airport.
“The area’s growing amenities make it an excellent investment location,” Warby says.
Many companies have located on the Rosebank Peninsula due to the strength of the location.
“Major brands in the area include Allegion, Rheem, Blum, Bunnings, Autex, Canterbury of New Zealand, Barkers, Courier Post and Methven.”
West says the strength of the tenant, which is a well-established plastics manufacturing company, should give investors comfort around the asset’s revenue potential.
“The company’s purpose-built, high-tech production facility has made it one of the largest privately owned injection moulding companies in New Zealand,” he says.
“It operates 28 high-end injection moulding machines ranging from 22 to 1500 tonnes.
“The company manufactures a wide range of high-tech components used in medical instrumentation, navigation, rescue and communications, animal health, dispensing and stage lighting.
“It also makes an extensive range of drawing instruments, homewares, garden products and outdoor furniture.”
The company’s services include gas assisted moulding, product design and styling, printing and decorating, assembly and packaging, worldwide distribution, and tooling design and manufacture of up to 14 tonne capacity.
West says this could be one of the last big industrial investment opportunities this year.
“Don’t miss this chance to set up your property portfolio for a strong start to 2018.”
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