A recently refurbished industrial unit in the West Auckland suburb of Henderson is available for purchase and will appeal to investors and owner-occupiers.
Located at 1 Southgate Place, the property, which has strong road-front profile, has 480sq m of floorspace on a 689sq m freehold title.
Airdrie Freightlines Limited is the tenant of the unit. Their existing lease agreement runs until 1 May 2026 and there is one further right of renewal available for two years leading to a final expiry of 30 April 2028.
Their agreement returns $87,470 plus GST and operating expenses in net annual rental income and includes 2.5 per cent fixed annual rental increases and market reviews on renewal.
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The property is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
This zoning anticipates industrial activities that do not generate objectionable odour, dust, or noise. This includes manufacturing, production, logistics, storage, transport, and distribution activities.
Sitting in the Henderson Valley industrial area, the property is surrounded by manufacturing warehouses and engineering workshops. Many professional services and retail stores can be found in Henderson’s commercial centre, which is a short drive away.
The Northwestern Motorway interchange with Lincoln Road is 5km away to the north-east, offering connectivity across the city.
Colliers Brokers Matt Prentice, Jack Tuson, and Nelson Raines have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 27 August, unless sold prior.
The main warehouse at the property spans 340sq m, while there is a further 18sq m of low stud warehouse space, 53sq m of office space on the ground floor, and another office on the first floor that measures 70sq m. There are also 10 car parks.
Prentice, Director of Industrial Sales and Leasing at Colliers, says having the opportunity to acquire a freehold property of this nature with an established tenant is one not to be missed.
“Astute investors will appreciate the fee simple title, high warehouse ratio and the favourable lease terms, which will provide steady rental growth in the future,” Prentice says.
“On the other hand, buyers with a long-term view may want to purchase the property with an eventual eye on occupying it themselves.”
Tuson, Associate Director of Investment Sales at Colliers, says the recent refurbishments of this highly functional property represent a significant investment.
“The works included a brand-new roof, new gutters, a paint job, wiring throughout, and new flooring in the offices,” Tuson says.
“This means that a considerable amount of hard work has been done before a new owner will take over the building.”
Raines, General Manager of Colliers West Auckland, says industrial floorspace remains in short supply across the Auckland region.
“The latest research from Colliers notes an overall vacancy rate of 1.75 per cent for industrial property and Henderson is an area that remains tightly held,” Raines says.
“Affordable entry-level assets of this nature are rarely offered to the open market.”
- Supplied by Colliers
