Modern Rosebank office and warehouse complex
An elevated view of the office and warehouse complex for sale at 494 Rosebank Rd, Avondale – identified by red border.
A modern, built-to-order office and warehouse facility on the popular industrial Rosebank Peninsula area of Avondale is for sale and leaseback to a blue-chip, national tenant.
“This is a prestigious investment opportunity,” says Dwayne Warby of Colliers International who colleagues Andrew Hooper and Greg Goldfinch, is selling the complex at 494 Rosebank Rd by deadline private treaty closing at 4 pm on Tuesday July 28.
“The quality and functionality of the building and the strength of the tenancy covenant will appeal to investors on multiple levels,” Warby says.
“The combination of a high-end facility within an established and sought after area, often promoted as ‘the closest industrial precinct to Auckland’s CBD’, serve to underpin the attraction of this offering.
The freehold 16,909 sq m site houses a purpose built office and warehouse with a large canopy access area and generous on-site parking.
It is leased to healthcare company Universal Specialties Limited (USL) which has operated in New Zealand for nearly 30 years. The firm has several departments including medical, sport, consumer and dental which service and supply health care providers with its products.
Interior of the 12 metre high warehouse at 494 Rosebank Rd.
A triple-net structured lease for a period of 10 years from settlement of the sale includes fixed annual rental growth. The complex has a net lettable area of 8978 sq m and generates annual rental income of $1,270,000 plus.
Hooper says the quality of the property’s A-grade construction is matched by the location.. “Being purpose built, USL made a point of ‘future proofing’ the warehouse facility in its design along with recently fully refurbishing and upgrading the associated offices and amenities to an exemplary level..”
The 5600 sq m warehouse has an operational stud height of 12 metre and is constructed of reinforced concrete slabs with steel beam supports..
“Good natural light is a feature throughout the fire sprinklered building while nine roller doors give excellent access a very generous 1580 sq m canopy area,” Hooper says.
An attractive, landscaped area, accommodating 40 of the nearly 90 available car parks, leads to the main office and reception entrance.
The 1690 sq m of office space was designed by leading New Zealand architectural firm Gaze and is mainly open plan but with partitions separating off executive offices and breakout rooms. It is carpeted and air-conditioned with internal access through to the warehouse. Amenities include fully serviced staff kitchens and wash room facilities.
The property is zoned Business Five under the Proposed Auckland Unitary Plan where it will sit within a light industry designation allowing for manufacturing, production, logistics, storage and distribution activities.
Goldfinch says the Rosebank commercial and manufacturing precinct has undergone significant change in the last few years from large bulk industrial and manufacturing to a much more intensive and diverse business and retail profile.
“High profile brands now include Cadbury’s head office and a new Bunnings Trade Centre that has been specifically developed to service the rapidly expanding trade business and demand growth in Auckland’s western suburbs.
“Other recent examples include Blum, a premium Austrian kitchen brand; and Autex Industries, which are serviced by well-known cafes like Columbus and Kreem,” says Goldfinch.
Reception area for tenant Universal Specialties Limited (USL) at 494 Rosebank Rd.
He says Rosebank Rd is usually less than a 10 minute drive down the State Highway 16 northwestern motorway from the Auckland CBD. With designated on and off ramps it forms an arterial route from the motorway south to the western suburbs of Avondale, Waterview, New Lynn and Kelston.
Goldfinch says all of these areas are experiencing significant population increases and are recognised key-growth centres for the Auckland region.
“New Lynn town centre in particular is developing into a major centre for commercial, residential, transport infrastructure and amenity improvements.”
He says accessibility to these locations will be even better once the nearby Western Ring Route motorway upgrade encompassing the Waterview tunnel is completed.
“This will substantially reduce travelling times by bypassing the Auckland CBD and give faster access to Auckland International airport and the southeastern State Highway 20 motorway which services another massive industrial and commercial precinct.”
The location has additional business appeal due to being close to very large residential areas.
“Ease of staffing is always an important consideration and west Auckland offers the dual benefit of having established and growing residential catchments within a very short commute of significant retail and industrial zones like this one.”
Dwayne Warby (left) Andrew Hooper (centre) Greg Goldfinch (right) of Colliers.