A high-quality industrial building in the prime location of Wiri in South Auckland is available for purchase and offers buyers the opportunity to acquire a top-tier asset with a strong tenant covenant.
105 Wiri Station Road, Wiri has 6,747sq m of total net lettable area on a 15,310sq m freehold site that enjoys excellent profile to one of the area’s main arterial routes.
The property is tenanted by HEB Construction who have nine years remaining on their current lease term as well as three five-year rights of renewal leading to a final expiry of 25 October 2048.
The total net annual rental income from the property is $1,341,214 plus GST and operating expenses and there are 2.5 per cent annual rental increases as well as five-yearly market reviews.
Start your property search
Wiri is one of Auckland’s most sought-after industrial hubs and has proven popular with large-scale operators who have established their enterprises there.
The precinct is well connected to Auckland’s motorway network and the subject property is only 1.3km from Wiri’s inland container terminal, while Auckland Airport is a short drive away.
The property is zoned Business – Heavy Industry Zone under the Auckland Unitary Plan.
Colliers Directors Greg Goldfinch, Paul Jarvie, and Hamish West have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 12 November, unless sold prior.
The building comprises a 4,650sq m warehouse, with the high stud area being 10m at the portal knee and 10.9m at the apex. The office space is spread over two floors and includes a 1,451sq m main office and 647sq m of warehouse office space.
The yard measures 3,684sq m and is accessed via a single driveway. Security fencing is positioned around the western and northern perimeters of the site. There are 52 car parks at the property and multiple access points.
Goldfinch, National Director of Industrial at Colliers, says the property benefits from a high-profile location and has been built to an excellent standard.
“This functional building has proven incredibly useful for HEB and their business operations and shapes as a desirable passive investment opportunity,” Goldfinch says.
“The lease terms ensure built-in rental growth for the future and the tenant has made a long-term commitment to the location that could extend well into the 2040s if all future rights of renewal are taken up.”
Jarvie, Director of Industrial at Colliers, says having an A-grade tenant in place will be appealing to astute buyers.
“Having first begun their operations in 1975 as a family-owned business, HEB is now one of New Zealand’s major infrastructure companies with extensive civil infrastructure expertise that has been honed across the multiple large-scale projects they have delivered,” Jarvie says.
“They now belong to the VINCI Construction group who are based out of France and offer local knowledge with the backing of global resources and expertise from one of the largest construction firms in the world.”
West, Director of Industrial at Colliers, says the continued development of Wiri has made it one of the in-demand locations for industrial businesses in Auckland.
“Through its recent infrastructure improvements and the redevelopment of two former quarries on Roscommon Road, Wiri has positioned itself as an outstanding place for industrial firms to establish themselves,” West says.
“Research from Colliers notes the Manukau and Wiri industrial area has a vacancy rate of only 0.1 per cent for prime space, which indicates the ongoing demand for the area.”
- Supplied by Colliers
