A prominently positioned Woolworths supermarket in the rapidly growing West Auckland suburb of Henderson is being offered to the market for sale and will appeal to prospective purchasers seeking a top-quality passive investment.
Sitting on the corner of Lincoln Road and Universal Drive, the landholding spans 13,412sq m and the supermarket has approximately 4,082sq m of gross floor area.
Landholdings of this scale are seldom found on Lincoln Road, which is an area that is particularly tightly held.
With over 250m of road frontage, this highly visible property is fully leased to General Distributors Limited, a subsidiary of the Woolworths Group.
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The tenant is currently in the midst of a 20-year initial lease term that runs until October 2035 with multiple rights of renewal available leading to a final expiry in October 2065.
The estimated passing net income from this freehold property is $1,513,331 plus GST per annum with turnover-based rent reviews every five years.
Woolworths New Zealand is one of the country's largest and most prominent supermarket operators, operating nearly 200 supermarkets across Aotearoa.
Lincoln Road is one of Auckland s busiest roads and offers an extensive array of amenities, including well-known food and beverage outlets and retail stores such as McDonalds, Mitre 10, and Pak nSave, among others.
Henderson is well connected by major transport routes, including the Northwestern Motorway and the Western train line, making it a strategic location for commuters and businesses alike. The popular area of Westgate is also nearby.
The property is zoned Business-Light Industry Zone, Lincoln sub-precinct B, under the Auckland Unitary Plan.
Colliers Directors Blair Peterken, Peter Herdson, and Shoneet Chand have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Thursday 8 May, unless sold prior.
Peterken, Director of Capital Markets at Colliers, says the supermarket sector is considered one of the most attractive asset classes available to investors given they trade through all conditions and are deemed essential businesses.
"Opportunities to secure trophy investments in Auckland such as this one remain scarce and supermarkets are one of New Zealand's most coveted assets," Peterken says.
"This Woolworths is well established in its current location and provides a steady rental stream that is underpinned by a secure tenant covenant and strong underlying land value."
Henderson serves as a commercial and residential hub for West Auckland, featuring shopping centres like WestCity Waitakere, government services, and community facilities.
With a diverse, multicultural population, and strong community networks, it's a vibrant area with access to parks, schools, healthcare facilities, and cultural spaces like the Corban Estate Arts Centre.
Herdson, National Director of Capital Markets at Colliers, says the existing mixture of infrastructure and connectivity makes Henderson an area that has significant future growth potential that will drive a continued need for services such as supermarkets.
Data from the most recent Census highlights that between 2018 and 2023 the Henderson-Massey local board area grew by 5.4 per cent, Herdson says.
With major housing developments being constructed in the area it is a suburb that will continue to expand.
Chand, Director of Investment Sales at Colliers, says when examining all of the pertinent factors, this is an opportunity that warrants serious consideration.
"The chance to secure a stake in one of the country's premium asset classes through a property with a blue-chip tenant is one that is not to be missed," Chand says.
- Supplied by Colliers
