Three stand-alone industrial properties over two separate parcels in the Rosebank Peninsula business precinct provide a substantial, seldom-available footprint on a strategic transport corridor, Bayleys salespeople say.
The properties feature a combined freehold site area of 1.097ha (more or less) at 309-315 Rosebank Road, within one of the closest industrial precincts to Auckland’s Central Business District – in demand among occupiers with distribution, logistical and manufacturing considerations.
Bayleys director of Capital Markets and Investment Sales Layne Harwood says the Business – Light Industry zoned landholding is offered to the market at a time of high demand for industrial property across Auckland’s Northwest, as a shortage of appropriately zoned development land meets an uptick in warehousing and production requirements.
Harwood is marketing the properties with colleagues Rick Kermode and Nicky Joyce for sale by deadline closing at 4:00 pm on Thursday, 30th November 2023 (unless sold prior).
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The fully occupied and well-maintained industrial assets are stand-alone, with a combined floor area of 6,098sq m (more or less).
The buildings were stage developed in 2004, 2006/07 and 2016/17, each comprising a modern construction type and a mix of distribution and manufacturing space with support administration and amenities.
Bayleys Auckland Commercial and Industrial salesperson Rick Kermode says three separate tenancies offer a split-risk investment profile with a total net income of circa $838,300 per annum and a Weighted Average Lease Term (WALT) of circa 2.8 years.
“The properties feature high stud heights and quality construction with a generic design, ideally suited for various light industrial uses, including manufacturing, distribution and logistics.
“The current tenant profile provides for upside rental growth and a medium-term re-positioning opportunity,” he says.
Building cladding manufacturer and supplier Stoanz occupies 1,413sq m (more or less) at 309 Rosebank Road with a five-year lease to July 2024 and one five-year renewal right.
At 311 Rosebank Road, structural steel business Fabrication and Welding New Zealand occupies 1,323sq m (more or less) with a three-year lease to July 2026 and one three-year renewal right.
The third premises at 313-315 Rosebank Road span 3,362sq m (more or less) and is occupied by specialist sub-contract component manufacturers Anglo Engineering, which has an eight-year lease to November 2025 and two four-year renewal rights.
Bayleys North Shore commercial and industrial sales and leasing specialist Nicky Joyce says the ability to support three independent tenants is an excellent option for investors, with further potential should the new owner wish to reposition the site in the future into a comprehensive multi use facility.
“Together, the properties present a well-balanced investment opportunity positioned to benefit from significant development across the Northwest region, particularly with new housing projects and associated commercial and industrial developments to service requirements from a growing population.
“With vacancy rates at record lows across the precinct and industrial land values surging to reflect low availability of prime land sites, the subject properties present an attractive opportunity to acquire well-maintained assets with a good balance of size and configurations for all types of industrial, manufacturing and distribution uses.”
Article supplied by Bayleys
