An industrial logistics hub occupied by international operator Mainfreight as its Taupo transport branch has been placed on the market for sale, with growing demand for e-commerce facilities expected to underpin investor interests in the property.
Located at the heart of the Lake Taupo Industrial Park, the property at 7 Keehan Drive, Hilltop, has a land area of 4,261sq m (more or less) within one of the region’s newest industrial developments, just one kilometre from the intersection of State Highway 1, State Highway 5 and Napier Road.
Gary Harwood and Lisa Christensen of Bayleys Taupo are marketing the industrial investment opportunity featured in Bayleys’ latest Total Property portfolio with an auction scheduled at 4pm on Wednesday, 28 September.
The premises, built in 2017, has a footprint of 1,340sq m (more or less), eight allocated car parks and a seismic assessment of 100 percent of the National Building Standard (NBS).
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“Strategically positioned near a Z Service Station complex and Mitre 10 Mega on Keehan Drive, the site is just off Crown Road - the main arterial connection between Napier Road, State Highway 1 and the existing industrial areas of Ashwood Industrial Business Park, Miro, Matai and Manuka Streets,” Harwood says.
The property is fully occupied by an international operator and listed New Zealand logistics and transport company Mainfreight, which is one of the largest freight companies in New Zealand, with 306 branch locations in 26 countries and 10,393 team members.
Mainfreight has a seven-year lease for the property returning a net income of $162,500 per annum plus GST with fixed annual rental growth.
The lease commenced on 1 January 2018 and has a further two, four-year rights of renewal with a final expiry date of 31 December 2032.
“The modern building has been well-maintained and includes a terminal area with 520sq m of high-stud warehousing with concrete flooring.
"In addition, there is 200sq m of storage, offices and staff amenities over 80 sq m and a 540sq m (more or less) canopy, all visible from State Highway 1,” says Christensen.
“A heat pump and cooling system with ducted heat transfer unit have been installed to air-condition the office and staff amenities.
“The building has been designed to allow ample space for vehicle maneuverability and parking, with a staff courtyard and security fenced yard.”
Harwood says the premises presents a unique opportunity to secure a proven performing industrial investment in a premium location.
“Through the global pandemic, demand for warehousing to support e-commerce has skyrocketed, while an emphasis on transport efficiency in regional locations continues to increase accessibility and productivity for transport-oriented businesses.
“Industrial precincts across the country are bursting at the seams with low vacancy rates that attract investor attention and underpin value growth.
“Compared to some of Mainfreight’s larger logistics hubs across Auckland and Christchurch, this mid-size offering provides an affordable opportunity for investors to realise value from a strategic location, desirable tenant and regional growth projections,” Harwood says.
Growth projections for the Taupo region estimate some 98ha of industrial land and 3,000 new residential sites are required to meet the demand of population growth over the next 30 years.
- Article supplied by Bayleys
