Can’t beat a good Western
The road-front property, for sale at 34-36 Cartwright Rd in Kelston, is identified by a red border. Photo / Supplied
A factory and office property for sale in Kelston, is receiving added attention due to improved transport links slated for West Auckland.
The building at 34-36 Cartwright Rd is to be auctioned on April 20, at the NAI Harcourts’ auction room in Hurstmere Rd, Takapuna.
It is being sold by Marty Van Barneveld and Andrew Bruce of NAI Harcourts North Shore, who point out that such offerings have benefited from the anticipated Western Ring Route and Waterview Tunnel Project.
“These infrastructure projects will dramatically improve traffic flows in-and-out of West Auckland,” says Van Barneveld.
“In property terms, they’ve brought a new meaning to the saying, ‘you can’t beat a good Western’.”
He describes 34-36 Cartwright Rd as a standalone road-front property, “usefully located” in the Kelston industrial precinct.
It comprises about 948sq m of manufacturing office space.
“Sitting on a large, level 2092sq m site, the property is leased to the New Zealand-owned and operated cabinetry business, Image Interiors,” says Van Barneveld.
“The building was originally split into three tenancies; however, Image Interiors now occupies the whole building. The business was established in 2004 and is now a highly-successful operation with a focus on outstanding craftsmanship, specialising in high-end hospitality fit-outs. Image Interiors holds a four-year lease, which commenced October 2016, with two rights of renewal for two years.”
The factory comprises about 948sq m of manufacturing and office space. Photo / Supplied
Bruce says the current rent is $80,217, plus operating expenses, with annual market reviews capped at 10 per cent. “This property has strong rental growth potential. This is an excellent opportunity to secure a tenanted freehold investment in a sought-after area.”
Kelston is a popular commercial location, with low vacancy rates.
“It’s popular with small to medium sized industrial businesses seeking to capitalise on the excellent supply of local skilled and semi-skilled labour living in the immediate area. Industrial warehouses, such as 34-36 Cartwright Rd, offer a more affordable alternative to the mainstream industrial locations,” says Van Barneveld.
Cartwright Rd is 25 minutes west of Auckland’s CBD and has easy access to the motorway via Te Atatu going north, or via State Highway 19 through New Lynn and Avondale. The site offers good traffic exposure with arterial routes connecting through Great North Rd. It also has easy access with a good-sized concrete yard for parking and storage.
The building is estimated to have been constructed in the late 1950s to1960s, with more recent extensions and upgrades including re-cladding of exterior walls and roof. Both the warehouse and manufacturing area, and front offices and amenities have also been refurbished.
Under the Unitary Plan the property is zoned Business-Light Industry, which allows for industrial activities that do not generate objectionable odour, dust or noise.
Van Barneveld says the property provides a good holding income and excellent potential for future growth.