An industrial property housing New Zealand’s largest supplier of fence and gate hardware has been placed on the market for sale.
1/20 Kerwyn Avenue, East Tamaki, is tenanted by Edgesmith, a New Zealand firm which supplies fences, gates, sliding door systems and related hardware to customers across New Zealand, Australia, Asia and North America.
The property comprises an industrial warehousing building with office space and staff amenities leased to Edgesmith through to 2025 with two further three-year rights of renewal – generating annual net rental of $128,639 plus outgoings and GST per annum.
Founded in 2000, fence and gate wholesaler Edgesmith has undertaken sustained expansion over the ensuing decades - which saw the business take out the lease on the Kerwyn Avenue property in 2016 as an additional South Auckland branch to serve growing demand in the Auckland market.
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Edgesmith’s long-term lease comes with annual rental increases of Consumer Price Index plus one percent, with market reviews scheduled for 2022, 2025 and 2028. The tenant covenant is underpinned by a bank guarantee to cover six months’ gross rental plus GST.
The property at 1/20 Kerwyn Avenue is now being marketed for sale by Bayleys Manukau. Salespeople Nelson Raines and Tim Bull said the approximately 765-square metre building on a half-share of 3,000 square metres of land, was constructed in the early 1980s using concrete slabs.
Mr Raines said the building had an Initial Evaluation Procedure rating of 100 percent of new building standard and was zoned Business – Light Industry under the Auckland Council unitary plan. The Business – Light Industry zoning allowed for activities including manufacturing, logistics, storage, and distribution.
“The, structure, configuration and location of this property with its arterial road frontage make the premises compatible with a wide range of industrial and trade uses or multiple tenancies, thereby going a long way towards future-proofing the building,” said Mr Raines.
“The property is user and customer-friendly with a north-facing central office and staff amenities facing onto Kerwyn Avenue. A smaller second office is also positioned near the side-street entrance off Andromeda Crescent.
“With dual street access off both Kerwyn Avenue and Andromeda Crescent, and access to the warehousing space through five roller doors, this property is well-equipped to service the growing demand for the tenant’s sought-after supplies as it continues to expand.”
Mr Bull said that development of the East Tamaki industrial precinct began more than 35 years ago and had greatly accelerated with the opening of the Highbrook connection to State Highway 1 off the western end of Kerwyn Avenue, and more recently with the development of nearby Highbrook Business Park.
“Premises in the vicinity of the Kerwyn Avenue property are typically a mix of light industrial and warehousing activities taking advantage of easy access to the motorway,” he said.
Mr Bull said that suburbs to the east of the Kerwyn Avenue property had also seen extensive residential development since this part of East Tamaki was first developed.
“The growing suburban centres of Botany Town Centre, Ormiston Township and Flat Bush have created population bases whose demand for services have been accommodated in industrial premises across East Tamaki. This has cemented the focus of industrial tenants in East Tamaki.
“Major arterial roads in the South-East Auckland transport network - such as Ti Rakau Drive, Harris Road and Springs Road - facilitate efficient and convenient access to and from the greater area.”
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