A substantial industrial property, with a high profile corner location, is for sale in Wiri, South Auckland.
Paul Steele and Vinay Patel of CBRE are selling 2 Wilco Pl, Wiri, by deadline private treaty at 4pm on November 21, unless it sells earlier.
"It has two street frontages, a highly functional drive-through yard and a premium office fit-out," says Steele.
In the heart of Wiri, it has easy access to motorways and routes north and south via SH20, which is less than 2km away, Steele adds.
The site is surrounded by similar quality buildings with neighbouring tenants including Plumbing World, Tyremax, Superfreight and Cargoplus — attracted to Wiri by the motorway access for their logistics-based businesses.
The property has a predominant frontage onto McLaughlins Rd and a total net lettable area of 2600sq m including an 1800sq m warehouse and a large 400sq m canopy that sits over the drive-through concrete yard area.
It was developed in 2012 for the current owners and built to a high specification with a generic layout appealing to modern industrial occupiers.
"With two street frontages, three separate road crossings, outside storage capacity and the large drive through concrete yard area, everything is geared towards highly efficient de-vanning and freight operations," says Steele. "The footprint of the high-stud warehouse makes it very suitable for today's focus from occupiers for high cubic warehouse capacity.
"The absence of columns creates desirable space capable of storing pallets up to five-levels-high. Flexibility is also catered for with doors on two elevations."
He says the property has 18 car parks, plus 400sq m of well-designed office space set over two floors with the upper levels providing commanding views of the surrounding area.
"These are high grade offices with Allucabond panel components, 2.7m high ceiling stud and full height tinted glazing."
The warehouse is built of durable full height tilt-slab concrete panels up to the roofline. The property is rounded off with black powder coated palisade fencing and is fully hedged with low maintenance landscaping.
Patel says the Light Industry zone will suit a range of warehouse-related cargo/freight businesses. With tenant Cirtex moving to bigger premises, it is expected to be available for future tenants or owner-occupiers to use from late next year.
Until then the property will provide a holding income of approximately $363,000 per annum net rent.
"The purchaser will be able to occupy in less than 12 months from settlement — something many would-be owner-occupiers have been hard-pressed to find in the market."
Patel says the 12-month lead time to find a tenant will be a strong incentive for investors, particularly given the leasing popularity of other properties in the area and the sub-1 per cent vacancy rate in the South Auckland industrial market.
"This year we saw a new building under construction on the street attract a new tenant four months ahead of completion. This highlights the demand currently for high quality industrial properties in the market and especially in this, Wiri's most modern industrial business park."