Two South Auckland industrial properties and another in West Auckland are featured for sale in Barfoot & Thompson Commercial's latest Insite portfolio.
In Penrose a well-located two-level corner property built in the mid1980s and comprising office space on the upper level and warehouse space below is occupied by long term tenant Rocket Foods.
"This is a prime commercial investment property," says industrial agent James Marshall who, with colleague Nick Wilson, is marketing 419B Church St East for sale by deadline private treaty closing at 2pm on Wednesday May 29.
Marshall says Rocket Foods signed to a new lease on February 1 this year for a term of five years and seven months with two further rights of renewal for two years; paying annual rent of $281,123 plus GST and outgoings with market rental review annually.
The stratum in freehold property on Heavy Industrial zoned land has a building area of 1596sq m not including the canopy and is designated Principal unit B with a quarter share of Accessory Unit 1-2.
Marshall says the building comprises office and high-stud warehouse space recently fitted out as a high level food grade facility.
"The sole tenant, Rocket Foods, formerly Rocket Kitchen Wholesale, was founded in 1998 by a chef and a baker," he says. "The company has come a long way since then with just over 20 years of wholesale baking experience.
"In the Church St East building, the company operates a fully equipped commercial kitchen for up to 20 hours a day and for six days a week."
The tenancy profile is made up of an office area of 274sq m leased for $63,020 annually; warehouse area of 1322sq m generating $196,978 per annum; a 25sq m canopy earning $1625pa; and 25 car parks bringing in $19,500 in annual rent.
Wilson says the property benefits from being relatively close to the Auckland CBD via the State Highway 1 Southern Motorway and SH20 Southwestern motorway.
"The efficient operation of tenant Rocket Foods kitchen is impressive – based on following a home-based cooking style on a slightly bigger scale. For example, the kitchen use over 7000 eggs per week and each one is broken by hand.
"The firm also receives daily deliveries of the best fresh produce obtainable which its team of pastry chefs, bakers, cookie icers and chefs use to create a range of wholesale handmade bakery products. Some of the team have worked with the company for over 20 years," Wilson says.
The opposite tenancy situation obtains further to the south in Papakura where a 1980srecently refurbished, single-level industrial building is being sold with vacant possession.
"This freehold property comprises medium-stud warehousing with minimal office component," says agent Duane Mullooly who, with colleague Rob Taylor, is marketing 5 Old Wairoa Rd for sale by deadline private treaty closing at 4pm Thursday June 6 – unless sold earlier.
"The configuration of the property provides for multiple uses, aided by a secure yard and plenty of car parking," says Mullooly.
The 2120sq m site houses a building with a total gross floor area of 1027sq m and 25 car parks.
"The main warehouse measures about 813sq m and has a stud height of around 4.6m to the bottom of the portal beam. It has basic amenities and no office component," Mullooly says.
"Fronting Old Wairoa Rd is an additional workshop facility, previously occupied by a mechanic and attached to the main warehouse. This unit measures about 160sq m with mezzanine offices of circa 54sq m."
Taylor says the large outdoor area features a secure, fenced, asphalt-sealed car park and yard area.
"Construction is of concrete foundations, concrete structure floors, concrete block walls, internal plasterboard walls, aluminium joinery and Longrun steel roofing."
He says the zoning is Business - Light Industry under the Auckland Unitary Plan, which permits industrial activities that don't generate objectionable odour, dust or noise. "This includes manufacturing, production, logistics, storage, transport and distribution activities."
Taylor says the industrial property is strategically located about 140m from the intersection
with Porchester Rd which is immediately opposite the North Island Main Trunk railway line. "The centre of Papakura's business area is only 500m to Southwest; and the property also has quick access to Great South Rd and State Highway 1 Southern Motorway via the Papakura and Takanini on-ramps."
Mullooly is marketing another commercial property, this time to the West of Auckland in New Lynn, and this time with upcoming vacant possession.
"This one is a superbly located property built in the 1970s which comprises a mix of office and industrial uses," says Mullooly who, with colleague, Colin Stewart, is marketing 9 Puriri St for sale by tender closing at 4pm on Wednesday June 5.
Stewart says property benefits from being close to the Lynn Mall shopping centre and the New Lynn train station.
"The freehold site of 1012sq m of land, with a 20.11m frontage to Puriri St, is occupied by a two-level building with a total gross floor area of 1270sq m and has 12 frontage car parks," he says.
"It's perfect for owner-occupiers and add-value investors alike with vacant possession upon settlement in September."
The property is at present occupied by one tenant, Westprint Offset Print Specialists, with the ground floor primarily serving as low-stud printing workshop space.
The upper level comprises a reception/office area to the north-west corner, and a lunch/staff room to the north-east corner. The remainder of the upper floor primarily houses document storage space, some workroom space, and amenities.
Stewart says a Business Metropolitan Centre zoning in general allows for high-rise mixed-use developments with occupiable building heights ranging between 11m and 25m.
Construction is of concrete foundations, concrete post and beam frame; concrete upper floor, mainly concrete block external walls with a small area of fibre-cement cladding; steel and aluminium joinery; profiled Longrun steel or similar roofing to a parapet design; and gib' board or similar internal linings.