West Auckland fully leased industrial duo

8:05 PM Friday October 5, 2018 True Commercial

Henderson Glass rents units A and B at 76 Central Park Dr Henderson with two other tenants. Photo / Supplied

Two adjoining fully-leased West Auckland industrial properties are for sale in Hendersonwithin an established and popular industrial location handy to the northwestern State Highway 16 motorway.

The property at 3 Clemway Place is a modern warehouse and building constructed around2008; while the second at 76 Central Park Drive comprises four medium stud industrial buildings with a mezzanine level residential flat.

Both Light Industry zoned properties are being marketed for sale by tenders closing at 4pm on Thursday, October 18, through Colin Stewart and Chris Peterson of Barfoot & Thompson Commercial’s Auckland Central office.

Stewart says 3 Clemway Place is held in one freehold title over 2075sq m of essentially level land which houses an industrial warehouse and office building with a total gross floor area of about 1470sq m and 24 car parks.

“The building’s two tenants Beejay Carpets and Moom Group Automotive pay combined annual net rent of $167,750,which averages out at $114 per square metre,” he says.

Beejay Carpets Ltd leases Unit 3A on one side of the property while Moom Group leases Unit 3B on the other side. The two tenancies have tenant fit-outs that support their business operations within majority open-plan warehouse space complemented by good quality office, workroom, lunchroom and amenities areas. The tenants also have 12 car parks each.

Both tenants lease 735sq m apiece individually; comprising 560sq m of warehouse space; 73sq m of ground floor office, reception and amenities areas; 102sq m mezzanine levels of office and amenities.

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Two tenants occupy 3 Clemway St, Henderson. Photo / Supplied

Beejay Carpets pays $92,750 annually on a three-year lease commencing June 1, 2018 with two two-year rights of renewal ; while Moom Group pays $75,000 per annum for Unit 3B on a two-year lease commencing February 1, 2018 with four two-year rights of renewal. 

The site coverage of the building is 61 per cent, with uncovered areas having been sealed. The land is a regular rectangle in shape with a frontage of 41.5m and depth of about 50m.

Overall construction comprises concrete foundations and ground floor with full height concrete tilt slab exterior walls; steel portal framing and timber framing to other walls. The Longrun roofing is supported by steel purlins and the interior features aluminium joinery.

Canopies cover both personnel and roller doors, with ground level ‘undercroft’ parking beneath the mezzanine offices.

Both tenancies have vinyl and carpet flooring with walls and ceilings lined with decorated plasterboard.

Backing onto the Clemway Place property at right-angles is the second offering at 76 Central Park Drive. This is held in one freehold 1523sq m land title occupied by four industrial tenancies and a mezzanine flat encompassing a floor area of 816.4sq m along with 22 car parks.

The road frontage property, with vehicle access roller doors, is fully leased earning a total of$136,500 plus GST per annum. Henderson Glass rents units A and B; while AEMan Auto Electrical and Beyond Electrical respectively lease Units C and D.

Unit A of 285.1sq m with nine car parks earns annual rent of $48,000 and comprises: a 38sq m showroom, 147sq of warehouse space supplemented by 55sq m of mezzanine level offices, lunchroom and amenities; along with 45.1sq m of mezzanine storage.

Unit B of 171.3sq m with five car parks earns $25,000 per annum, and has 144sq m of open plan warehouse space with offices, storage and amenities; and a 27.3sq m mezzanine lunchroom.

Peterson says the inter-tenancy wall between units A and B has been largely removed to provide unhindered access between the two units.

“Both units with four car parks each are on two-year leases commencing July 1, 2017 with two two-year rights of renewal ,” he says.

Units C and D individually provide warehouse, office and amenities space of 144sq m apiece, with Unit C generating annual rent of $17,000 while Unit D earns $27,000 per annum.

The tenant in the 72sq m two bedroom flat, which has an open plan living and kitchen area with a separate bathroom, pays yearly rent of $19,500.

Peterson says the “trapezoidal shaped” near-level site with security fencing, has a 25.8m frontage to the western side of Central Park Drive and an average depth of 61.1m with access to the rear three units via a communal access-way to the northern part of the property.

“It’s 40 metres to the north of Clemway Place and opposite The Trusts Stadium,” he says. “Building coverage is only 44 per cent with the uncovered areas not sealed.”

Construction of 76 Central Park Drive comprises concrete foundations; concrete ground floor; full height concrete tilt slab and concrete block plastered walls, and timber framing. The metal roof with steel purlins incorporates netting, foil and Duralite inserts. Joinery is aluminium and the floors are varnished particleboard covered with vinyl flooring. Walls are painted plasterboard and suspended ceilings have been installed over the mezzanine areas.

Stewart says the adjoining properties are within a well-regarded Henderson commercial and industrial location handy to transport networks including the nearby northwestern motorway which continues to receive ongoing major upgrading.

“The surrounding buildings are occupied by a range of manufacturing and warehousing businesses along with trade showrooms.

“The locality  experiences high levels of occupancy and demand, with further planned developments underway along Central Park Drive on the last remaining greenfield sites.

“The commercial centre of Henderson is only five minutes’ drive to the south and the Auckland CBD is around 20 minutes’ drive away during off-peak traffic flows.

“With Auckland’s Unitary Plan providing for greater density, Henderson is experiencing strong rejuvenation and especially in this Central Park area.”