Mount Wellington property for sale, lease
Buildings of varying configurations are situated at 100 Carbine Road — including modern high-stud warehousing facilities.
Tenants and owner occupiers are being targeted in the marketing of one of central Auckland’s largest industrial property holdings.
Up to 29,526 sq m of industrial premises of varying ages and configurations, including modern high-stud warehousing, located on a 4.48ha freehold site at 100 Carbine Road, are for lease or purchase.
The property is owned by Augusta Value-Add Fund No1 Ltd and is being marketed by Sunil Bhana, James Valintine and Mike Houlker of Bayleys Central Auckland Industrial team.
It is for lease (all or part) or for sale in its entirety by Deadline Private Treaty closing November 10, unless leased or sold earlier by negotiation.
The bulk of the property is currently occupied by Bunnings Warehouse, which uses it as its Auckland distribution centre. It is generating net annual rental income of $2,271,510 plus GST until October 2017 when the giant Australasian hardware retailer’s current occupancy expires.
“This offering represents a big opportunity for businesses that have leases expiring over the next year or so to secure a position in the heart of Auckland’s premier industrial precinct in one of the largest industrial holdings this close to the CBD,” says Bhana.
“Various lease configurations are available from 2,000 sq m upwards with flexibility to meet tenants’ requirements at competitive rental rates,” says Bhana.
“Alternatively, a large industrial owner occupier could purchase the entire property and benefit from the substantial cashflow it would provide until October next year, while considering the many future options that a holding of this size would offer.”
The property has access points off both Carbine Road and Bowden Road and an exit onto Gabador Place, providing efficient vehicle and product flow, says James Valintine.
The original warehouse and office complex situated at the Carbine Road end of the site dates back to the 1970s.
“This is still a very functional building with the warehouse stud height ranging from 7m at the knee to 10m at the apex and multiple roller doors,” says Valintine.
“It also has a separate two-level office building which is in good condition, with air conditioning and plenty of natural light throughout and a large staff cafeteria.”
In 2005, a new high-stud warehouse extension was constructed at the southern end of the property. “This modern warehouse facility provides excellent clear span, high-stud warehousing from 9m at the knee to 11m at the apex,” says Vailintine.
“It also has ample roller doors and yard areas for storage, container devanning and car parking.”
Valintine says due to the varying stages of development, the construction of the buildings comprises a mix of concrete and steel structure framing. Building services include a security system, smoke detectors and a full sprinkler system throughout.
“Augusta is intending to refurbish older warehouse components prior to new tenants taking occupation which means a good standard of accommodation would be provided right across the complex,” Valintine says.
The property is zoned Light Industry under the new Unitary Plan which permits light industrial activities that do not generate objectionable odour, dust or noise emissions.
Houlker says Mt Wellington remains Auckland’s most sought after industrial precinct due to its geographical location next to the Southern Motorway and proximity to the CBD, Ports of Auckland and Auckland International Airport.
It is also well serviced by public transport, with a wide range of amenities at the nearby Sylvia Park Shopping Centre which is within walking distance.
Carbine Road is the main arterial that links Waipuna Road to the South Eastern Highway which provides easy access to SH1. Surrounding properties are mainly medium to large industrial buildings that are occupied by national or international tenants.