'Bottom drawer' investment with sought-after heavy industry zoning
A recently refurbished East Tamaki warehouse investment with heavy industrial zoning and a new long-term lease is for sale through Colliers International.
Tenanted by established window and door manufacturer Rylock, the 3,363sq m freehold property at 10 Blackburn Road offers a good mix of medium-stud warehousing and quality office space.
Colliers International Industrial Sales and Leasing brokers Todd Kuzmich and Jolyon Thomson are marketing the property for sale by deadline private treaty closing at 4pm on Wednesday 2 May, unless sold earlier.
Kuzmich says it is an outstanding bottom drawer investment.
“This is a great opportunity to acquire a superbly located industrial investment with excellent tenant covenant on a new six-year lease,” he says.
“Commencing from settlement, the lease will return $215,000 in net annual rent plus GST, making this a relatively affordable investment.
“The property has been recently refurbished to a very high standard, including new roofing and an office fit out that showcases the tenant’s premium aluminium joinery.
“The property’s sought-after heavy industrial zoning, low office to warehouse ratio, and proximity to main arterial and motorway routes makes it an ideal base for manufacturing and distribution.
“Investors will not want to miss this chance to secure a superb passive investment in the sought-after East Tamaki industrial precinct.”
The property comprises a 1,775sq m standalone building providing 1,447sq m of warehouse and factory space and some 308sq m of office and amenity space.
The versatile warehouse is constructed of a concrete floor, steel portal frames, metal profile cladding and long-run roofing. It offers a stud height of 6.4m at the knee, rising to 7.4m at the apex.
Access is via four metal roller doors, each offering about 4.8m of clearance. The front corner of the warehouse is serviced by a gantry crane and rails.
Thomson says the warehouse is in good condition and was recently refurbished.
“New roller doors were installed and most of the roof was replaced, including the translucent roof panels. New high bay incandescent lighting and cabling was also installed.”
Along with the warehouse, the property offers about 175sq m of front office and amenities, 58.5sq m of warehouse amenities, and some 75sq m of mezzanine, deck and stairs.
Thomson says the front office has been partitioned into four separate offices and a boardroom.
“This area has been fully refurbished in recent years including the glazed partitions, floor coverings, ceilings and lights,” he says.
The mezzanine floor extends over the warehouse and comprises a well-appointed office, meeting room and kitchenette.
Outside, a secure concrete and asphalt paved yard is located to the rear of the warehouse.
A telecommunications cell tower occupies a small portion of the southwestern corner of the yard, providing additional rental returns.
Most of the exterior of the building was recently repainted and new concrete footpaths and landscaped garden areas were added to the street frontage.
Thomson says the property has excellent profile to Blackburn Road and is situated only 200m from Allens Road, providing quick and easy access to the Southern Motorway via the Highbrook Drive interchange.
The location also offers easy access to nearby industrial areas such as Mount Wellington, Wiri and the airport.
“The immediate surrounding locality comprises a mixture of small, medium and large scale industrial premises with the eastern end of East Tamaki expanding towards Te Irirangi Drive.”
The property’s heavy industry zoning offers more relaxed controls than the other industrial zones under the Auckland Unitary Plan, providing greater flexibility for occupiers.
Tenant Auckland Aluminium Sales Limited, trading as Rylock Windows and Doors, is a family-owned company that has been operating across the wider Auckland region under its current ownership for 13 years.
Thomson says Rylock has been manufacturing aluminium joinery since 1954. It is a brand of Altus NZ, a joint venture of Fletcher Aluminium and NALCO.
“Rylock’s Blackburn Road premises serves as head office and manufacturing facility. The company utilises top of the line CNC equipment to maintain a productive edge over the competition.”
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