An A-grade industrial investment at Napier

5:00 AM Saturday June 24, 2017 True Commercial

Main tenants at 33-37 Niven St (within blue border) include 3PL and Fastway Couriers, on 12 and 10 year leases respectively. Photo / Supplied

A freehold multi-purpose investment site with long term tenancies is for sale in a prime Napier industrial location.

The 8170sq m freehold investment opportunity at 33-37 Niven St, Napier, is being marketed by Rob Nankervis of Colliers International with offers on July 11, unless sold earlier.

The property is situated in the heart of the Onekawa industrial area, 4km southwest of Napier’s CBD. Nearby businesses include Uttrich Aluminium, Metro Glass, Stratco, NZ Post and Markham.

Nankervis says this is a rare opportunity to purchase a property with significant cash flow from long-term leases to two established transport and distribution companies, plus an additional office lease. “The logistics companies are in exciting growth phases, making this an A-grade investment opportunity.”

The main tenants are 3PL and Fastway Couriers, on 12 and 10 year leases respectively. 3PL has eight years left and Fastway Couriers has nine years. Family violence prevention service Dove Hawke’s Bay is on a three-year office lease.

The property is earning net rental of $477,000 per annum.

Nankervis says 3PL is Hawkes Bay’s specialist in providing outsourced third party logistics solutions to customers, including warehousing and integration of transport, pick-pack, dispatch and product inventory management from the point of import or manufacture to the end point of the supply chain.

“All major transport companies which they have strong relationships are within minutes of the warehouse.”

Fastway Couriers is a globally franchised courier company with over 30 years’ experience and a presence in New Zealand, Australia, Ireland, Northern Ireland and South Africa.

The larger property at 37 Niven Street comprises a 1800sq m high stud warehouse, including offices and two temperature controlled storage rooms, solely tenanted by 3PL.

An additional building with a total floor area of 3223sq m is tenanted by 3PL and Dove.

The smaller property at 33 Niven Stt comprises a medium stud 507sq m warehouse with total floor area of 918sq m, tenanted by Fastway Couriers. Both properties are zoned Main Industrial, which allows for a wide range of uses.

“The zoning allows for commercial activities including office accommodation, hospitality activities and retail activities as well as additional industrial activities.”

Onekawa is Napier’s main industrial estate, with a predominance of small to medium-sized industrial concerns.

The property is in the vicinity of Hawke’s Bay Airport and Ports of Napier and ideally located close to the expressway.

Good servicing and vehicle access are provided, with Onekawa benefiting from its close positioning to major arterial traffic routes.