Showroom and warehouse in Takanini

11:24 AM Monday April 11, 2016 True Commercial

The Inlet Rd property has two buildings with flexible future usage.

A freehold, dual use showroom and warehouse property in South Auckland is an ideal entry level opportunity for investors or owner-occupiers say brokers.

The 7701sq m site at 15 Inlet Rd, Takanini is being offered for sale through Paul Jarvie and Andrew Hooper of Colliers International, by deadline private treaty closing on April 20 unless sold before.

Jarvie says the property, featuring two buildings with flexible future usage and upside potential presents significant value for money.

“This opportunity represents very attractive pricing compared to what buyers may be able to source in more central precincts like Mt Wellington or Penrose, but it is still less than 20 kilometres down the motorway from Auckland Airport and other major industrial hubs.”

Currently leased to a home improvement product importer and distributor, Trade Depot Limited, the property offers holding income until the lease expires at the end of March next year.

“With just under 12 months left on the current lease term, the buyer has plenty of time to search for a new tenant and negotiate a lease if they wish to hold the property for investment purposes,” says Jarvie.

“The remainder of the current lease also allows owner-occupiers flexibility, allowing them time to prepare to shift their business to the premises while earning an income on the property.

“The lease to Trade Depot, which has been a long-term owner-occupier in this location for 15 years, generates $323,000 in net annual rental income with a net lettable area of 3433sq m.”

Hooper says given the current record low industrial vacancy rates, investors could expect a very quick uptake of potential new tenants.

“Investors would also have the flexibility to lease the two buildings separately or together, not to mention probably realising more attractive lease terms when the current lease is up for renewal in a year’s time if the expected market buoyancy continues.”

The multi-purpose building mix of showroom and separate warehouse is suitable for almost any future user in the industrial, manufacturing, logistics or storage sectors.

The roadside frontage, two-storey showroom has a net lettable area of 370sq m on each level. It has concrete block and galvanised mild steel exterior walls with two roller doors providing additional access. Off-street car parking is available to the front of the showroom.

The 2405sq m medium-to-high stud warehouse building at the rear comes with an additional 114sq m of mezzanine office space. The warehouse has concrete floors, long run galvanised mild steel and concrete block walls, steel framing and a Super Six roof. It is fully equipped with fire sprinklers and is accessed via four roller doors.

Newly fitted out offices provide staff amenities and storage as well as kitchenette and staffroom areas.

Recent refurbishments include re-cladding with long run galvanised mild steel, providing new translucent roof panels to the roof as well as a number of office rooms. To the rear of the warehouse is a newly sealed, fenced yard providing excellent site circulation and ample storage.

Takanini is a well-established industrial commercial location, with good access to SH1 and nearby labour pools in Takanini, Papakura and Conifer Grove. Recent developments have brought new amenities to the region such as The Warehouse, as well as a Pak n Save, adjacent to 15 Inlet Rd.

Takanini is in Papakura district, the second-fastest growing district in the Auckland region says Hooper.