Standalone warehouse on a 3,290sq m freehold site with excellent road frontage and an established tenant
A standalone warehouse in Te Atatu tenanted by an established safety glass wholesaler is for sale with a long six-year lease providing locked-in rental growth.
The 1,587sq m building at 147 McLeod Road comprises a double bay warehouse with a 6m to 8m stud height, and a small portion of offices and amenities.
It is located on a 3,290sq m freehold site with excellent road front exposure, an extensive front yard and separate rear yard.
The secure tenant is a New Zealand owned and operated glass wholesaler that specialises in producing fully certified safety glazing materials for all types of applications.
The tenant, Glass Market Limited, occupies the property on a six-year lease with a three-year right of renewal, returning $193,750 in net annual contract rent.
The lease provides locked-in rental growth, with 2.5 per cent fixed annual increases plus a market rental review on renewal.
Colliers International is marketing the property for sale by deadline private treaty closing at 4pm on Tuesday 14 May, unless it is sold earlier.
Industrial Director Matt Prentice says it is a tidy opportunity to invest in Auckland’s sought-after industrial sector.
“This solid industrial offering provides guaranteed rental growth, excellent tenant covenant and an attractive warehouse to office ratio.
“It is well located in a small pocket of industry on the eastern side of McLeod Road, within the predominantly residential suburb of Te Atatu in West Auckland.
“Excellent motorway access and a scarcity of nearby industrial offerings have made this precinct tightly held among owner-occupiers and long-term investors.”
Prentice says the property is only five minutes’ drive from the Northwestern Motorway interchange and another 10km from Auckland’s CBD, providing excellent access to markets.
“The wider Te Atatu area has grown in popularity in recent years, with improved infrastructure and amenities pushing up property prices, making this a good long-term investment prospect.”
Josh Coburn, Director of Colliers’ West Auckland office, says the property comprises a standalone building set back from the road frontage on a regular shaped, level industrial site.
“The warehouse provides 1,520sq of accommodation across two bays, each with a 6m stud rising to 8m at the apex.
“Individual roller doors to each warehouse bay allow the building to be split into separate tenancies if required in future.
“A small office and amenity area of 67sq m is constructed within the warehouse envelope over two levels.”
Coburn says the front of the site includes an 860sq m yard with asphalt or concrete seal for circulation, parking and yard storage.
An additional rear yard of 400sq m allows for additional storage capacity.
The site is on the southern side of McLeod Road, with residential property to the west and similar industrial activity to the east and south.
It is 2.7km from the Te Atatu motorway interchange and well served by road networks, with public transport accessible along Te Atatu Road.
McLeod Road is a main road connected to various arterial roads. It links the southern part of the suburb to Henderson.
The property is zoned Light Industry under the current Auckland Unitary Plan, which allows for uses including manufacturing, production, logistics, storage, transport and distribution activities.
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