Car yard can be driven many ways
Nissan dealership at 261 Lincoln Rd, Henderson.
A high profile, strategic corner site on busy Lincoln Rd, Henderson, offers three years of holding income from an established brand-name tenant while a new owner considers multiple development options.
“More than 45,000 cars passing by daily is a key feature for any buyer and the options of how investors can ultimately use the property are just as attractive,” says John Davies of Colliers International who, with colleague Dwayne Warby, is offering the 2000 sq m property at 261 Lincoln Rd property for sale by auction on Wednesday November 5 unless it sells earlier by negotiation.
“At the moment the site is occupied by quality tenant West Auckland Nissan for another three years until late 2017,” Davies says.
“However, there is no right of renewal so the possibilities are many and varied. The immediate scenario would allow a buyer to secure this investment for a portfolio leaving the existing tenants, Sime Darby Motor Group, in place for the next three years. This would provide a generous holding income while planning multiple future options for either owner occupiers or continuing with its very solid rental appeal.”
Dwayne Warby of Colliers International.
Sime Darby Motor Group (NZ) Ltd, part of a Malaysian based diversified multinational, has an annual turnover in excess of $550 million and operates 34 facilities throughout New Zealand.
Davies says the modern buildings, with a net lettable area of 385 sq m, were constructed in 2003 and generate a net annual rental of $153,750.
“The buildings lend themselves to all sorts of future uses. Although purpose built as a car sales facility, the building layout and presentation would ideally accommodate a range of other retail and commercial activities. These may include fast food retail, specialty showrooms, trade suppliers and garden centres etc. The premise incorporates a very functional mezzanine office and amenities area or level accessed by internal stairs.”
The high visibility site, zoned Working Environment, offers a 30 metre frontage onto to Lincoln Rd and a 60 metre frontage on to Paramount Drive. Under the Proposed Auckland Unitary Plan it is destined to be zoned Light Industry.
The attractively presented showroom, office and amenities make up close to a third of the lettable area, while the 180 sq m workshop accounts for nearly half of the total. There is also tar sealed space for more than 50 vehicles.
Warby says another appealing feature is that it is situated on the eastern side of the Lincoln Rd arterial route.
“Significantly this is the ‘going home’ side of the road for traffic volumes returning from Auckland city, underpinning its strategic position for future businesses. Mitre 10 Mega, Pak‘nSave, a new big Countdown and the Lincoln North retail developments are also nearby.
“Paramount Drive also links Lincoln Rd and Central Park Drive which are the two main industrial and commercial streets in Henderson. The Henderson commercial centre itself is only three kilometres away, while Auckland’s CBD is just a 15 minute drive east via the north western State Highway 16 motorway,” says Warby.
He says the new Western Ring Route motorway upgrade will improve travel to the north and the Waterview tunnel, now under construction, will substantially reduce travelling times by bypassing the Auckland CBD, and give easier access to Auckland airport at Mangere and the State Highway 1 north-south motorway.
John Davies of Colliers International
“Being close to large very large residential areas, this location has additional business appeal,” Warby says.
“Staffing is always an important consideration and west Auckland offers the dual benefit of having established and ever growing residential catchments within a short commute of significant retail and industrial sites like this one.”
What’s on offer?
The property: West Auckland commercial site.
Location: 261 Lincoln Rd, Henderson.
Agency: Colliers International.
Sales method: By auction.
Date: Wednesday, November 5.
- Strategic corner location.
- High exposure to heavy traffic.
- Occupied by Nissan dealership.
- Earns net annual rent of $153,750.
- No right of lease renewal.