Freehold industrial property in Avondale

3:55 PM Friday November 3, 2017 True Commercial

The freehold industrial property at 48 Honan Place, Avondale, identified by a blue border. Photo / Supplied

A substantial warehouse property with harbour views is for sale on the Rosebank Peninsula, in the Auckland city fringe suburb of Avondale, offering a solid investment with an established long-term tenant.

Colliers International has been exclusively appointed to market the 1.55ha freehold property at 48 Honan Place, Avondale.

It’s for sale by deadline private treaty closing on December 5, unless sold earlier, through industrial sales and leasing directors Andrew Hooper, Dwayne Warby and Hamish West.

“This property is superbly located at the southern end of the Rosebank Peninsula — one Auckland’s best industrial destinations,” Hooper says.

“The peninsula is the closest industrial precinct to the CBD and the Ports of Auckland, and benefits hugely from the new Waterview Tunnel, less than 5km away.

“Limited land supply makes the Rosebank Peninsula one of the most tightly held areas in the Auckland market.”

Hooper says the property benefits from a long-term lease to one of New Zealand’s best-established plastics manufacturing companies.

The lease is earning $860,00 per annum plus GST with nine years remaining, followed by a six-year right of renewal.

Hooper says the property comprises a refurbished warehouse and office building, along with a newly-built bulk store, both of which are fully sprinklered.

“The 6276.1sq m main building was originally constructed in 1996 and extensively refurbished in 2015,” he says. “It has a 2334.6sq m manufacturing facility with a 5.85m stud, and 2799.7sq m of warehousing with a 9m stud.

“Overlooking the Waitemata Harbour is 877.7sq m of office accommodation over two levels. The remainder of the building comprises decks, a mezzanine lunch area, and canopies.”

Hooper says the 1904.7sq m bulk store was constructed in 2015. It has a stud height of 11m and 403.9sq m of canopy.

Warby says Honan Place is just off Rosebank Rd, giving it superb access to the Northwestern Motorway (SH16). “The Rosebank Rd motorway interchange is less than 5km away, while alternative access to SH16 is via the Great North Rd interchange at Waterview,” he says.

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

“The area’s growing amenities make it an excellent investment location,” Warby says.