A new distribution centre, to be built in the rapidly expanding Hobsonville precinct for a globally-renowned, high quality power tool company, is for sale exclusively through CBRE.
Presenting an “unparalleled investment opportunity”, this prime investment holding is offered to the market via expressions of interest closing on Wednesday November 13.
WAIDE is both developer and builder of the state-of-the-art facility, leading the design and construction of what will be a significant addition to the Auckland industrial property market.
The project, due for completion in late 2026, is situated on one of the last remaining greenfield sites in the area.
Start your property search
The tenant will occupy the property, at 10 Te Ahurea Street, for an initial eight-year lease on completion of the build.
This offers investors the enviable covenant of a global household name in the construction sector, with the ability to cater to its long-term operations and projected expansion.
John Bedford, Senior Director of CBRE’s Capital Markets Industrial & Logistics team, said the chance to acquire an asset like this off the plans is likely to appeal to many investors.
“Industrial property is the most popular commercial property sector among investors nationally at the moment, so we expect strong interest in this high-quality investment with only an initial deposit payment required now.”
The property will serve the tenant’s existing operations as its head office and national distribution centre.
It will also offer a significant opportunity to cater to its projected expansion.
The international power tool company has outgrown its existing facility and was on the hunt for suitable relocation options to coincide with its upcoming lease expiry, said Bruce Catley, CBRE Managing Director of Capital Markets Industrial & Logistics.
“The CBRE team introduced the tenant to WAIDE, as we were aware WAIDE owned the vacant site on Te Ahurea Street.
"It was a logical choice, offering many benefits including ease of access to arterial routes, the exponential industrial and logistics growth in Hobsonville and proximity to household brands in the area such as Mainfreight, Bidfoods and Autex.”
Along with the premises (referred to as Warehouse A), the development also includes a smaller adjoining office and warehouse facility (Warehouse B), providing space for an additional tenancy or future expansion options, says Bedford.
“The additional building will allow this international tenant to expand its operations in response to growing demand for its products.”
Resource consent for the new development has been approved, and with design nearing completion, WAIDE expects an onsite presence prior to Christmas. Alongside key consultant BSW Architects, WAIDE is focused on ensuring the project exemplifies a strong vision, form, function and utility.
The new facility will occupy a 20,268sqm prime corner site located between the State Highway 18 motorway and the residential suburb of Hobsonville, said Catley.
“Hobsonville has become a location of choice for many industrial and logistics operators since the completion of the western ring route. The industrial precinct is now almost fully developed, with occupiers benefiting from easy motorway access north and south.”
Charlie Waide, managing director of WAIDE, said the two buildings, which will provide more than 11,000sqm of floor area, are designed as leading-edge centres for both head office and national distribution operations, with scope to accommodate a wide range of potential occupiers.
“We are proud to be both developer and builder on a facility that offers this level of utility. Its proximity to the motorway, and interface with a web of thriving commercial businesses in the area, make it the perfect fit for just about any outfit in need of capacity to operate nationally.”
Warehouse A includes an 8,000sqm extra-high stud warehouse with a large drive-through breezeway. The Te Ahurea Street frontage will feature a glazed facade, with a ground floor showroom and 756sqm of corporate-grade office space on the first floor.
Warehouse B will include a 3,223sqm warehouse with a canopy, offices and a large yard area. Both buildings will accommodate more than 100 carparking spaces.
The facility will generate around $3.6m in annual rental income across the two tenancies. The international tenant’s initial eight-year lease, which includes rights of renewal, also provides the new owner with a growing income stream through both annual CPI-linked rent and market reviews.
WAIDE is one of the few developers operating in the Auckland market that also has a construction arm, enabling it to employ a preferred developer-builder model, said Charlie Waide.
“With a single entity managing the entire project, from design through to turnkey construction, we significantly reduce design and construction risk, compared with a more traditional model of contracting out construction to another party.”
WAIDE was established in 2015 and has significant experience developing and building across several asset classes in the built sector; including industrial warehousing, data centres and high-end multi-level residential projects to name a few.
- Supplied by CBRE
