A large-scale, purpose-built industrial property in west Auckland’s Rosebank industrial precinct has been placed on the market for sale, with its motivated owner looking to release capital for other projects.
Located in arguably one of the best streets in the sought-after precinct, just off busy Rosebank Road, the freehold Business - Light Industry-zoned property at 26 Jomac Place is fully-leased to the well-established relocation and logistics firm, World Moving and Storage Limited.
The company has occupied the warehouse and office property on the regular-shaped 7,742sqm freehold site since it was purpose-built in 2017 and has demonstrated its ongoing commitment by renewing its lease for a further eight years from 1 December 2021.
The property returns net annual income of $658,460.00 plus GST and operating expenses. The lease includes a further two, four-year rights of renewal and has built-in rental growth through 2.5 percent annual increases and reviews to market on renewal dates.
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Centrally located to all major arterial routes and only 12km from the Auckland CBD, agents say this property’s positioning will always be in demand by distribution and service companies.
The property is being marketed by Mark Preston, James Hill, Stewart White and Scott Campbell of Bayleys via deadline private treaty closing Thursday 18th May, unless sold prior.
With overall industrial vacancy for Auckland at sub-1 per cent and logistics proving to be one of the most resilient and defensive asset class across market cycles, Preston said the Jomac Place offering has compelling investment credentials.
“There are so many fundamentals in its favour – from the tightly-held location to the property’s scale to the long-term lease to a respected tenant with strong ties to the site,” he said.
“The property is extremely functional and designed to a high specification which suits both the current occupier’s needs and supports the value of the offering into the future.”
The property has a total building area of 3,037.64sqm and features around 505sqm of office space across two levels fronting the Waitemata Harbour, along with a 1,988sqm high-stud warehouse, canopied area, wash bay, decking, carparking and a generous 3,300sqm concrete yard built for heavy fork hoist loadings.
The large site provides drive-around access and is a short distance from the north-western motorway (State Highway 16) off/on ramps streamlining connections region-wide and benefitting from the Waterview Tunnel which provides the critical link south without the need to travel through Auckland city.
“The Rosebank industrial precinct has emerged as a popular place for businesses to be based, given the quality and scale of property it offers and those arterial connections that can be leveraged for operational efficiencies,” said Preston.
“Occupiers range from small industrial tenants and owner-occupiers, to large-scale multinationals that all recognise the strategic advantages that the area boasts, and the broad population catchment which provides a willing and ready workforce.
“With industrial property outperforming other asset classes on long-run returns and capital gains, investors looking for a foothold in a preferred Auckland industrial precinct with a solid and committed occupier in place will be drawn to this property.”
New Zealand-owned and operated World Moving and Storage has been operating in the logistics sector for more than 16 years and has offices in Wellington and Christchurch.
- Article supplied by Bayleys
