A ‘colourful’ investment out west

5:00 AM Saturday August 5, 2017 True Commercial

AS Colour’s state-of-the-art head office and distribution facility at 84 Central Park Drive, Henderson. Photo / Supplied

Australasian clothing company AS Colour’s state-of-the-art head office and distribution facility in West Auckland is on the market.

The 6735sq m freehold investment property at 84 Central Park Drive, Henderson, is for sale by deadline private treaty closing at 4pm on Wednesday, September 6, unless sold earlier.

The property is featured in the upcoming Colliers Portfolio, which is due out next Friday.

Andrew Hooper, industrial sales and leasing director for Colliers International, who is marketing the property with colleague Dwayne Warby, says the property has excellent fundamentals. “This is an outstanding opportunity to acquire a well-located, high-quality logistics and distribution facility with strong tenant covenant,” he says.

“AS Colour’s four-year lease offers built-in growth, with fixed 2 per cent annual rental increases, along with a four-year right of renewal.”

Hooper says the investment is returning $475,000 in net annual rent.

Investors will be attracted to the strong tenant covenant offered by a well-known, New Zealand-founded clothing business, he says.

“Established out of a Parnell garage some 12 years ago, AS Colour has since expanded into an international business with 110 staff globally,” Hooper says.

“AS Colour designs and manufacturers quality clothing basics and is the largest blank T-shirt supplier in Australia and New Zealand.”

The company operates 15 retail stores, with seven in New Zealand and seven in Australia. It also owns an 8000sq m warehouse in Melbourne and leases a 3000sq m warehouse in Los Angeles, California.

Zoned for Light Industry, its Henderson head office comprises a modern 4243.9sq m logistics facility of tilt slab construction. The warehouse encompasses 3044sq m of space with a 10m stud height. Access is via four roller doors covered by a large 600m canopy. Durable concrete yards offer full drive-around access to the site.

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The AS Colour warehouse has 3044sq m of space with a 10m stud height. Photo / Supplied

About 600m of modern, air conditioned office space is available across two levels.

Warby says the location is within a leading West Auckland industrial and commercial precinct.

“The property is close to State Highway 16 and the newly opened Waterview Tunnel, giving it excellent access to Auckland’s CBD, ports and airport.

“A number of significant industrial businesses are located within this tightly held area, along with many trade retail and office occupiers.

“Businesses are drawn to this area due to its local labour pool and closeness to the motorway network.”

The Northwestern Motorway (SH16) is accessible from the Lincoln Rd or Te Atatu interchanges.

Warby says the new Waterview Tunnel has substantially reduced travelling times, bypassing the Auckland CBD and providing easier access to the Southern Motorway (SH1).

“The area’s growing amenities make it an excellent investment location,” Warby says. “Modern, high-quality facilities like this are in demand.”