Still space to write up at former Croxley site
Part of the interior of the large industrial property with space to lease at 460 Rosebank Rd, Avondale.
Two new tenants have leased close to 6000sq m of space in a large industrial property in West Auckland that was occupied for over half a century by Croxley Stationery - leaving over 6000sq m still available for lease.
The 12,425sq m complex on a 2.38ha site at 460 Rosebank Rd in Avondale dates back to the 1960s. It was one of the earliest large-scale industrial developments in the area on what was previously horticultural land in the now busy Rosebank Road industrial precinct.
The premises was purpose built for Croxley Stationery for the manufacture and distribution of workplace and school stationery products and has had a number of extensions and refurbishments undertaken over the years. Croxley ceased manufacturing in New Zealand last year, reflecting the downturn in demand for paper and associated products in an increasingly digital age, and has relocated to smaller premises in New Lynn.
Bayleys West Auckland sales and leasing manager Mike Adams says the Avondale property, owned by NZX listed Stride Investment Management, has attracted strong interest from replacement tenants given the strength of its location on sought-after Rosebank Rd close to the north-western motorway.
Adams and Bayleys Auckland colleague Paul Dixon have leased about 4000sq m of space at the rear of the complex, comprising 3744sq m of high stud warehousing and 333sq m of office, to French Country Collections which imports French and European inspired furniture and homewares.
Established in 1987, the company wholesales to retailers, designers and the corporate trade, with stockists throughout Australasia. It also has its own retail outlets in Pollen Street, Grey Lynn and Triton Drive in Albany.
Dixon says the company has grown significantly in recent years and to cater for that expansion is almost doubling the size of its main Auckland distribution centre and administration premises. It is relocating from a 2125sq m building it has previously occupied at 9-13 Exmouth Street, Eden Terrace since 2003.
The other tenant to move into part of the space vacated by Croxley is Aeroqual, an air quality monitoring equipment and systems company, which has taken 1361sq m of mainly office and laboratory space at the road front end of the property.
That leaves 6987sq m of warehouse and office accommodation still available for lease in the central part of the building. Adams says this offers mixed stud warehouse, factory, workshop and/or storage space.
“It includes the original saw tooth factory premises that were initially built on the site. While it is relatively low stud space by today’s standards, the saw tooth design with its translucent roof panelling provides an abundance of natural light. These buildings were also very solidly constructed with their big steel cross beams and solid concrete floors. There has also been more recent higher stud warehousing added to the eastern side of the building which allows for high racking systems.”
• The available space comprises:
• 1587sq m of new high stud warehousing;
• 412sq m of medium stud warehousing;
• 4285sq m of low stud warehousing;
• 61sq m of canopy;
• 458sq m of office accommodation; and
• 131sq m of amenities.
Adams says there is good roller door access all around the building and excellent car parking for up to 81 vehicles. “It’s very attractively priced for large-scale tenants with asking rentals for the warehouse space ranging from $65 to $90 per sq m and from $100 to $150 per sq m for the offices and amenities, with the carp parks at $5 a week each.”
He says the premises would suit a wide range of business uses including storage, manufacturing or distribution, with Stridealso willing to adapt the space to suit a tenant’s requirements, for example by decreasing or increasing the amount of office space.
Adams says the Rosebank Rd industrial precinct provides superb motorway access both west and east, with two north western motorway interchanges within a short drive of the property. These provide easy connections north and west as well as to the CBD and Ports of Auckland and State Highway One.
“The precinct will benefit immensely from the completion of the Western Ring Route and its Waterview underground connection in early 2017 which will provide a direct motorway connection with the airport and Manukau. This will further improve the location’s already good access to many parts of Auckland.”
The Rosebank Rd precinct popularity is reflected in its very low vacancy rate which stood at just 2.4 per cent in the latest survey of Auckland’s main industrial precincts by Bayleys Research earlier this year.
Paul Dixon (left) & Mike Adams (right) of Bayleys Auckland.