"This property represents a genuine chance of security for tenants looking for accommodation in this sector of the market," he says.
The property, generating annual rent of $543,052, is currently tenanted by Athena Bathrooms, one of New Zealand's leading bathroom manufacturers and suppliers with offices sub let to Cover Staff Recruitment.
The road front, architecturally designed property consists of two adjacent buildings.
A 422 sq m ground floor showroom, which could be used as office space depending on the desired fit out, leads into the first warehouse facility that has a 6 metres stud with 1904 sq m of floor space. A second 8 metre stud warehouse is accessible via a common wall and covers 1542 sq m.
The main office area of 380 sq m sits on the first floor above the showroom with internal stair access.
A further 310 sq m of mezzanine space is currently being used as a storage, office and amenity area.
Warby says the Rosebank commercial and manufacturing precinct has undergone significant change in last few years from large bulk industrial and manufacturing to a much more intensive and diverse business/retail profile.
"High profile brands now include Cadbury's head office and a new Bunnings Trade Centre that has been specifically developed to service the rapidly expanding trade business and demand growth in Auckland's western suburbs.
"Other recent examples include Blum, a high-end Austrian kitchen brand; Elite Fitness outlets as well as quality cafes like Columbus and Kreem," says Warby.
He says 507 Rosebank Road was the original location of the Dulux manufacturing site up until 2001 when it was redeveloped into its current layout which includes a central access road servicing several businesses.
Zoned Business Five under the Proposed Auckland Unitary Plan it will sit within the Light Industry zoning allowing for manufacturing, production, logistics, storage and distribution activities.
Rosebank Rd is promoted as the closest industrial precinct to Auckland's CBD - usually less than a 10 minute drive down the State Highway 16 motorway. With designated on and off ramps it forms a main arterial from Auckland's northwestern motorway to the major western suburbs of Avondale, Waterview, New Lynn and Kelston.
"All of these are experiencing significant population increases, and are recognised key growth centres for the Auckland region," Warby says.
"New Lynn town centre in particular is developing into a major centre for commercial, residential, transport infrastructure and amenity improvements."
He says accessibility to these locations will be even better once the nearby Western Ring Route motorway upgrade including the Waterview tunnel is complete.
"It will substantially reduce travelling times by bypassing the Auckland CBD and give faster access to Auckland International airport and the south eastern motorway which services another massive industrial and commercial precinct."
Warby says the location has additional business appeal given its closeness to very large residential areas.
"Ease of staffing is always an important consideration, and west Auckland offers the dual benefit of having established and growing residential catchments within a very short commute of significant retail and industrial zones like this one."
Andrew Hooper, Dwayne Warby and Chris Upright of Colliers.
