A warehouse complex in the heart of Henderson Valley’s thriving industrial hub is likely to appeal to investors and owner-occupiers alike, according to Barfoot & Thompson Commercial broker Meir Alfassi.
He, with colleague Peter Jeromson, is marketing 52 Bruce McLaren Rd for sale by deadline private treaty closing at 4pm on Tuesday 23 August unless sold prior.
“The property is under long-term lease and could not be better positioned,” says Alfassi.
“It sits on an outstanding 1960sq m freehold land parcel, with a total of seven warehouse units and one residential flat covering an approximate building area of 1100sq m.
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“We expect it to sell significantly below replacement cost so there is real value to be capitalised on here.”
He says it’s a split-risk investment over eight separate tenancies with five currently leased to strong longstanding tenants and returning $106,400 net per annum with fixed growth. There is potential market rent of around $185,000.
Built in 2004, the asset is modern, well-maintained and well-presented. It is solidly constructed with reinforced concrete foundations, concrete tilt panel and coloursteel cladding and aluminium joinery and roofing.
The warehouse units feature a portion of mezzanine storage. The lunchroom and amenities are located downstairs, providing for a highly efficient workplace layout.
There is also ample driveway space directly outside for container devanning, and 23 carparks onsite.
“The zoning of Business Light Industry provides a good range of business activities, and the possibilities here are considerable,” says Alfassi.
“You get to enjoy the passive cash flow and explore the add-value angles to increase your return. The location is desirable and particularly hard to beat in terms of local amenities together with accessibility to main transport routes and the surrounding West Auckland suburbs.”
- Article supplied by Barfoot & Thompson
