"There is no need to redevelop to add value - buyers can just enjoy the secure income stream from stable, brand-name tenants," says Hooper.
"The market could be waiting a very long time to see anything better than these three assets which are being offered openly for sale," says Goldfinch. Richard de Haast, CEO of Southpark, says the company is focusing on development opportunities rather than retaining standard "plain vanilla" investment assets like the three industrial properties that have been put up for sale.
"The company's purchase of the Jack Nicklaus-designed Kinloch Golf Course is the most recent example of a gradual broadening of Southpark's development portfolio," de Haast says.
"The Kensington Park residential community in Orewa, which was purchased in 2009, marked our first major diversification from core industrial into various alternative high-returning property classes.
"This was followed by the purchases of the Takapuna Towers in mid-2010 and the Kinloch golf course last month."
The first of the industrial assets is the BJ Ball head office at 121 Hugo Johnston Drive, Penrose, which was built in 2009 and comprises 976sq m of office space, a warehouse of nearly 12,000sq m, a canopy of 1300sq m and an extensive yard of nearly 1200sq m.
The leading Asia-Pacific distributor of paper and packaging products holds an 11-year lease which commenced in July 2009, with two rights of renewal of six years each. Annual rent is about $1.5 million and this is reviewed to market every five years, with a review to the consumer price index every two years.
Hooper, who worked closely with BJ Ball in sourcing the facility, says the building is a top example of a head office and warehouse constructed with tenant needs in mind, particularly the high-specification warehouse floor and extensive yard.
"The building is north-facing, with the canopy areas sheltered from the prevailing wind. Full drive-around truck access increases transport efficiency while the interior office accommodation is of CBD standard.
"With quality tenant, highly specified construction techniques and fit-out, this building is the ideal future-proof investment for a passive investor who wants a safe and secure income stream," Hooper says.
The second property at 55 Hugo Johnston Drive, Penrose, was completed in 2001 and is leased by global electronics giant Siemens, serving as the firm's New Zealand headquarters.
The modern, high-quality building comprises almost 800sq m of office space, an 1195sq m warehouse and 80 carparks.
Having already occupied the building for nine years, Siemens renewed its lease for a further six years in June last year. The annual rental is $300,000 and is increased by 2.5 per cent each year.
"Siemens is a long-standing, stable tenant and they are very happy with the premises, as proven by the recent lease renewal," says Hooper.
Siemens has also invested heavily in the premise with a state-of-the-art office extension and fit-out which they funded themselves.
"Again, this property would suit any investor who wants a low-hassle, stable, prime investment in one of Auckland's premier industrial locations."
Goldfinch says the Southpark Estate in the Hugo Johnston Drive precinct is favoured as an industrial property location with easy motorway access and good surrounding amenities. The State Highway 1 motorway and southeastern arterial route are both within 5 minutes' drive of the estate while Sylvia Park, with its 200 stores, cinemas, multiple restaurants and food court, is 3.6km away.
"Southpark developed almost all the properties on Hugo Johnston Drive and has taken care to provide a high-quality working environment," says Goldfinch.
"The precinct features mature trees, reserves, cafes and a walking and cycling track around the foreshore to Onehunga."
Hooper says Penrose remains one of Auckland's premier industrial locations, with office and warehouse space being in constant demand largely because of the convenient location and access to the central city.
"Other top-tier occupiers in the immediate area include Sharp, World Vision, Seamount, Steel & Tube, Recall and Sistema."
The third property being offered for sale by Southpark at 25 Ha Cres in Wiri was built for Croxley Stationery in 2007 as its distribution centre.
The building comprises a 392sq m office area adjoining a 16,582sq m warehouse with a high-specification floor area and substantial yard. Six roller doors and a loading bay provide access flexibility.
Croxley holds a 10-year lease dating from September 2007, with two rights of renewal of six years each and rent reviews scheduled every two years. Annual rent is about $1.7 million a year. The high-profile site offers dual road access to Roscommon Rd and Ha Cres.
"This is another quality investment with a long-standing, stable tenant in place," says Goldfinch.
"With continued growth and the opening of the new SH20 extension, Wiri's potential as a valuable industrial location is now being realised. It is really humming with new development and is quickly becoming a preferred industrial location."
The new motorway gives Wiri direct access to West Auckland and improved access to SH1, and has opened the area up for further industrial development.
"Like Croxley, some of New Zealand's best-known brands have discovered the benefits of basing their operations in Wiri, like Kmart, Bridgestone, Frucor, Downer EDI and Progressive Enterprises."
Goldfinch and Hooper believe the three big industrial buildings could attract offshore interest because of their scale and quality, as well as interest from high-net worth individuals, property funds and family trusts in New Zealand.
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