Two adjoining titles in the tightly held industrial precinct of Rosebank Road in West Auckland present buyers with the opportunity to secure a premier asset that has a strong tenant covenant and future growth potential.
384 and 386 Rosebank Road in Rosebank have a total combined land area of 7,444sq m and the freehold sites are zoned Business – Light Industry Zone under the Auckland Unitary Plan. The properties are being sold as a combined offering.
Number 384 Rosebank Road is a vacant site comprising 1,241sq m of land, while 386 Rosebank Road is a large, L-shaped allotment of 6,203sq m.
Number 386 Rosebank Road provides approximately 3,511sq m of total net lettable area to Holdson who occupy the two-storey building on a long-term lease that provides $538,000 plus GST in total net annual rental income.
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Limited land supply makes this one of the most tightly held areas in the Auckland market. There are a number of long-term occupiers in the general vicinity, including Allegion, Rheem, Blum, Bunnings Trade, Autex, Barkers, and Methven. Auckland’s CBD is approximately 15-20 minutes away during off-peak traffic.
Colliers Brokers Amir Bashota, Josh Coburn, Dhiru Patel, and Matt Prentice have been exclusively appointed to market the properties for sale via deadline private treaty closing at 4pm on Wednesday 20 July, unless sold prior.
The highly functional office and warehouse premises at 386 Rosebank Road comprises 334sq m of ground floor office space and amenities, with 349sq m of office space and amenities on the first floor.
The property includes a 2,788sq m warehouse and a 40sq m warehouse office on the ground floor. There are 35 available car parks, and the balance of the site is made up of secure and sealed yard space. Holdson have a new five-year lease on the property.
Bashota, Industrial Sales Broker at Colliers, says this offering provides significant rental income, while the new buyer establishes their next moves for the vacant site.
“It’s incredibly rare to find sites of this size and scale being presented to the open market with a national brand tenant in place that will provide security for buyers,” Bashota says.
“Holdson is a manufacturer, importer, and distributor of jigsaw puzzles, games, toys, and collectible brands and products throughout New Zealand. Best known for their Holdson jigsaw puzzles and Wasgij, they also distribute world leading toy brands.
“Given the existing lease agreement, there may be further potential for future rental growth based on current market estimates.”
Coburn, Director of Site Sales at Colliers, says the blank canvas of 384 Rosebank Road adds to the appeal of this highly desirable purchasing opportunity.
“The near square site is well-sized and offers 34m of road frontage to the southern side of Rosebank Road providing visibility for the high volume of traffic in the area,” Coburn says.
“There are very few developable sites available like this in West Auckland and it will provide buyers with flexibility to build something that is tailored to their needs.”
Patel, Associate Director of Industrial at Colliers, says the popular location will be a major drawcard for prospective purchasers.
“Rosebank Road is a prominent industrial hub that benefits greatly from its favourable proximity to Auckland’s CBD, the port, and the Waterview Tunnel, offering convenience and accessibility for occupiers,” Patel says.
“The neighbouring suburbs have experienced continual residential growth and offer a large employee catchment.”
Prentice, Director of Industrial Sales and Leasing at Colliers, says given the combination of an established tenant in one site and strong development potential in the neighbouring property this adds up to an exceptional purchasing opportunity.
“We expect there will be significant demand for this combined offering and would encourage interested parties to do their due diligence and contact us immediately.”
- Article supplied by Colliers
