A standalone, fully tenanted New Lynn light industrial factory is on the market.
It's in New Lynn's industrial hub at 76 Delta Ave, has a seismic rating of 70 per cent Initial Evaluation Procedure (IEP) report, and has been tenanted by the same businesses for several years.
Fisher West Auckland aluminum joinery and Exlers turf contractors occupy the 1387sq m building on a 1387sq m freehold site.
It is being marketed by Bayleys Auckland salespeople Mike Adams and Jean-Paul Smit for sale by auction commencing 2pm on Wednesday July 17.
The property, which features in Bayleys' upcoming Total Property portfolio magazine, is generating combined yearly rent of $113,000 plus GST.
Adams says both tenants have new leases that started in January last year, each with rights of renewal.
"Fisher West and Exlers have been at the property for a long time and the property and location suits their business needs well," he says.
R.A.N Aluminium, trading as Fisher West Auckland, signed a new six-year lease that generates $89,000 plus GST a year. Lease renewal dates are 2024, 2026 and final expiry in 2028, with rent reviews to market rates in 2021, 2024 and 2026.
Exlers turf contractors signed a new four-year lease that pays $24,000 plus GST a year. Lease renewal dates are in 2022 and 2024 with the final lease expiry in 2026. Rent reviews to market rates at renewal are built into the lease.
Fisher West Auckland makes glazed doors and windows for the construction industry from the split-level factory/warehouse, with adjoining office, mezzanine floor and storage.
Exlers operates its business — lawn and turf laying, sports field maintenance, fertiliser, erosion control, section clearing, truck and digger hire company— from a ground floor warehouse with lean-to extension and rear yard.
The 586sq m main factory has a large, clean-span warehouse with a stud height of 5m to the knee rising to 7m at its apex. Access to the factory is through a roller door at the front.
Adjoining the factory is the 39sq m ground floor office/showroom, amenities and storage area with a 91sq m mezzanine floor.
Exlers are to the rear of the property in a ground floor mix of 230sq m low stud and 115.5sq m medium to high stud warehouse, with a 17sq m mezzanine office. Access is through two roller doors.
Getting to the rear of the property is by a right of way between 78 and 80 Delta Ave, and there is also a pedestrian walkway through the rear of the main factory.
Adams says the property will suit a range of buyers, including those wanting a freehold property generating a passive return, through to land bankers who could be considering long-term use.
New Lynn's Light Industry zone allows industrial businesses that do not generate objectionable odours, dust or noise, as it is surrounded by a substantial residential suburb.
Businesses able to operate in the area include manufacturing, production, logistics, storage, transport and distribution.
"New Lynn is one of Auckland's fastest growing commercial and residential suburbs close to the city," says Adams.
"It is close to the New Lynn town centre, the commercial hub of West Auckland, and has easy access to the Northern and Western Motorways."