East Tamaki duo come with options and holding income

3 Averton Pl and 14 Lorrien Pl are offered for sale with a six-month leaseback from settlement, providing $365,996 in net annual holding income. Photo / Supplied

Two neighbouring warehouses in Auckland's sought-after East Tamaki industrial precinct are for sale either together or separately, with a short-term leaseback providing useful holding income for a new owner.

The properties, at 3 Averton Pl and 14 Lorrien Pl, just off the main arterial of Kerwyn Ave, offer a combined net lettable area of 2634sq m.

The Averton Pl property is a modern facility on a 2000sq m freehold site. Developed in the 2000s, it predominantly comprises clear span warehousing with a 12m stud height at the apex.

The adjoining property on Lorien Pl is an older facility on a unit title, with access to a yard between the two buildings. Built in the 1980s, it has a clear span warehouse with a 5m stud height.

Colliers International has been appointed to market the properties for sale by deadline private treaty closing at 4pm on Wednesday, September 11, unless sold earlier.

They are offered for sale with a six-month leaseback from settlement, providing $365,996 in net annual holding income.

Industrial Director Paul Higgins says a new owner could buy one or both. "This is a chance for an owner-occupier to secure
new premises in a tightly held and popular industrial area.

"Alternatively, an investor could bank on East Tamaki's extremely low vacancy rate and strong tenant demand by securing new lessees. The short-term leaseback offers flexibility for both occupiers and investors, providing income while a new purchaser plans their move or secures new tenants.

The layout of the properties also offers flexibility. Shared access to the yard allows them to be used as a single facility, while the standalone buildings and titles allows them to be occupied separately.

There's also scope to buy both and occupy one while leasing out the other. This allows a new owner to draw on rent as additional income, while providing space for future expansion if needed."

Industrial Director Jolyon Thomson says the properties are within minutes of the State Highway 1 interchange.

"This is a premium location with superb proximity to Highbrook Business Park. The location also provides easy access to nearby industrial hubs such as Wiri, Auckland airport and Mt Wellington.

"As a result, the East Tamaki area is occupied by many of New Zealand's leading national and international brands."

The Averton Pl property has a net lettable area of 1935sq m including a 1080sq m warehouse plus 414sq m of office and amenities.

The warehouse is accessed via two roller doors, both covered by a large canopy, and lead on to a concrete yard. The office area is set over three levels and is of a high stud.

The Lorien Pl property has a net lettable area of 698.8sq m, comprising a 540.6sq m warehouse, 116.5sq m of office and amenities and 41.7sq m of mezzanine storage.

The warehouse is accessed via multiple roller doors, two of which open on to a yard accessed off Lorien Pl, and another that opens on to the yard facing 3 Averton Pl.

Both properties are zoned Light Industry, which allows for manufacturing, production, logistics, storage, transport and distribution activities.

The vendor and current occupier of both properties, Ashon Ventures (NZ) Ltd, will lease them back for six months from
settlement.

The Averton Pl lease returns $276,660 while the Lorien Place lease returns $89,336.