Big Papatoetoe West industrial property
The property for sale at 256 Puhinui Rd, Papatoetoe West, is identified by a blue border. Photo / Supplied
A1.31 hectare industrial property on a long-term lease to a tenant described as “one of the country’s largest infrastructure and construction providers” is for sale in Papatoetoe West, south of the Auckland CBD.
Featured in the latest Colliers Portfolio, 256 Puhinui Rd is for sale by deadline private treaty with offers closing on March 14 (unless sold earlier); through Paul Jarvie and Colliers International colleague Brad Johnston.
The website of McConnell Dowell states the property serves as its mechanical division and plant yard.
Jarvie says it offers multiple options, allowing for long-term flexibility.
“This superbly located property comprises four modern, versatile warehouse buildings, along with an 8700sq m yard. Passive investors will appreciate the property’s strong tenant covenant and new 10-year lease which earns a solid income of $507,950 net a year. Land bankers and developers will be attracted to the site’s longer-term prospects. With low site coverage of only 16 per cent, there is plenty of potential for future development.”
Jarvie says a modern 169sq m standalone office building is located at the entrance to the site. The offices are partitioned into several meetings rooms and individual offices.
The smaller of two workshops has 366sq m of clear span space with a stud height of 5.8m. It is connected to a 122sq m amenity block over two levels.
The larger main workshop has 1275sq m of clear span space. It has a stud height of 11.3m at the knee, rising to 12m at the apex.
Jarvie says “the current tenant” has installed five and 25-tonne gantry cranes in each of the workshops.
“While the gantry cranes are not for sale with the property, they demonstrate one of many flexible configurations of these versatile workshop spaces.”
Jarvie says there are two small storage sheds of 118sq m and 144sq m located to the south and east of the workshop.
The remainder of the site comprises concrete and metalled yard areas with security lighting and electric security fencing.
“The tenant is one of the country’s largest infrastructure and construction providers, having worked on some of New Zealand’s largest projects,” Johnston says.
He says the property for sale is zoned for light industry, which permits a wide range of industrial activities that do not generate objectionable odour, dust or noise emissions.
It is within easy walking distance of the Puhinui Rd station, making it easily accessible to large labour pools nearby, and is well located within one of Auckland’s fastest growing industrial locations.
“The recent completion of the Waterview Tunnel has created even greater access to West Auckland, Albany and areas further north.”