Green Gorilla's Riverhead investment property

The Green Gorilla warehouse is for sale with concrete and metalled yards in Riverhead. Photo / Supplied

A newly-completed warehouse on long-term lease to waste services company Green Gorilla is for sale in Riverhead northwest of Auckland City.

The freehold property occupies a substantial 3253sq m site within the new Mill Industrial Park subdivision.

"This is a chance to acquire a long-term investment property in Auckland's tightly held industrial market," says broker Ryan de Zwart of Colliers International who is marketing 13 Timber Place for sale exclusively, by deadline private treaty closing at 4pm on Wednesday April 17 - unless it sells earlier.

"It has a versatile high-stud warehouse, large concrete and metalled yards, full security fencing and space for future expansion," de Zwart says.

The property was design-built for Green Gorilla, which has committed to a new 12-year lease, paying $180,000 in net annual rent.

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Backed by a 12-month bank guarantee, the lease has a mix of fixed and market rental reviews.

"This is the perfect scenario for an investor looking for a clean, bottom-drawer investment property," says de Zwart.

"It has a long lease, guaranteed growth, strong tenant covenant, an outstanding location, and the peace of mind of a low-maintenance new building."

The property is located at the end of Timber Place within The Mill Industrial Park, west of Riverhead township.

The standalone warehouse, accessed by three roller doors, occupies the southwestern end of the site; and has 576sq m of clear span space, with stud heights of 10m to 12m.

The building's construction is of pre-cast concrete walls, Colorsteel cladding and Colorsteel roofing.

It is surrounded by a 1394sq m concrete yard which has been divided into a storage and sorting area. An additional 1156sq m of yard has been metalled for vehicle and bin storage.

Tenant Green Gorilla's CEO, Graeme Bowkett, says the new Riverhead transfer station enables the company to consolidate and direct more waste to its main Onehunga processing facility on a daily basis.

The company's 2.7ha Onehunga facility diverts from landfill into recycling about 80 per cent of the construction and demolition material it receives with mechanised and manual sorting lines recovering recyclable materials like timber, metals, cardboard, plasterboard and other commodities. An additional commercial and industrial sort line is currently under construction.

Jimmy O'Brien of Colliers says Green Gorilla's new Riverhead facility is well-located in a growing industrial area that has already attracted strong, established tenants.

"Companies in the surrounding area include Atlas Concrete, Chi Drinks, Ross Pools, JSC Timber, North Treat and Earth Tec Projects."

O'Brien says the wider Riverhead area is a predominantly rural part of Auckland's northwest that Auckland Council has earmarked the area for significant urban development, alongside nearby Huapai and Kumeu.

"Plans for 1400 new homes in the Kumeu, Huapai and Riverhead area are in place, with a further 6600 to be built from 2028."

Riverhead is surrounded by the growth suburbs of Hobsonville, Coatesville, Whenuapai, Massey and Westgate; and is only 6km to the State Highway 1 Northwestern Motorway, 16km to Albany, 29km to the Ports of Auckland and 40km to Auckland International Airport.