A multi-use mega site that is home to Sleepyhead’s Auckland headquarters in the thriving industrial hub of Otahuhu has come up for sale, presenting prospective purchasers with a dream opportunity to secure a large footprint future redevelopment site in South Auckland’s industrial heartland.
The land and buildings at 41-71 Great South Road incorporates 20,430sq m of total net lettable area spread across multiple buildings on a significant landholding of 40,235sq m zoned Business – Light Industry Zone under the Auckland Unitary Plan.
The property is located on Great South Road and Saleyards Road, 13km from Auckland’s CBD and 11km from Auckland Airport.
The site’s favourable location provides excellent connectivity to major transport links including the Southern Motorway and Southwestern Motorway. Otahuhu train station is approximately 1km away, servicing passengers, while freight is also catered for.
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The property is being offered by sale and leaseback with the terms of the leaseback to be negotiated during the sales process.
Colliers directors Greg Goldfinch and Paul Higgins have been exclusively appointed to market the property for sale and are taking expressions of interest with a deadline of 4pm on Wednesday 15 December.
The property comprises a large, medium stud manufacturing and warehousing facility with two levels of offices on the end of the complex facing the Great South Road access lot, and visible from the Saleyards Road street frontage.
The 15,412sq m warehouse comprises a large double gabled building running along Saleyards Road with a third gabled building along the eastern side, divided by ablutions and a cafe in an attached building totalling 1078sq m.
The office space comprises a ground floor office measuring 982sq m, a 253sq m first floor office, and a 956sq m rear office. There is a 923sq m mezzanine manufacturing area at the southern end of the building, and a 625sq m basement car park and storage area under the northern end of the third gable.
Attached alongside the extensive buildings are several canopies totalling 566sq m, and ancillary building extensions. The property is fully sprinklered and includes an 11-person lift from the basement to the first-floor offices.
The Comfort Group are a fourth-generation, family-owned business who are Australasia’s largest bedding and foam manufacturer, and includes the Sleepyhead, SleepMaker and Dunlop Foams brands.
Goldfinch, national director of industrial at Colliers, says Sleepyhead is a well-known Kiwi brand that has operated at this site for 25 years and during that time the property has served the business and staff incredibly well.
“For eight consecutive years Kiwis have voted Sleepyhead as New Zealand’s most trusted name in beds,” Goldfinch says.
“While purchasers can be rest assured in the quality of the occupier in the leaseback, the land and buildings on offer, which have been meticulously maintained, are especially set to impress. It’s incredibly rare to see a site of this scale in this location with income and future potential hit the open market.
“With a leaseback in place, the new owners will be able to strategically plan their future moves for this super-site that could be repositioned into Auckland’s next high-profile industrial business park or the owner may wish to occupy the prime site themselves.
“The premises could be used for offices, warehousing, distribution or manufacturing purposes.”
Higgins, director of industrial at Colliers, says Otahuhu is part of South Auckland’s busy industrial area that is a key cog in the city’s economy.
“Properties in this part of Auckland are incredibly tightly held and demand is far outweighing supply currently, which leads to huge interest among a wide range of buyers,” Higgins says.
“Industrial zoned land with growth potential is highly sought-after across Auckland and this property represents one of the biggest sites to hit the market this year.”
Goldfinch says the vendor has advised that now is the right time to sell given the company’s significant growth during the past two decades.
“As a result of this growth, the business is now operating beyond capacity at this site. The property is being sold under a leaseback agreement with the new owner while The Comfort Group’s new factory at Ohinewai in North Waikato is under construction.
“This sale is part of The Comfort Group’s long-term, staged process to move its operations out of Auckland through the consolidation of all its operations at the Ohinewai site over the next few years.”
- Article supplied by Colliers
