Mattress manufacturer A.H. Beard is the tenant at 260 Roscommon Rd - identified by a blue border. Photo / Supplied
Mattress manufacturer A.H. Beard is the tenant at 260 Roscommon Rd - identified by a blue border. Photo / Supplied
A substantial warehouse and office investment on a 1.2ha site in Auckland's sought-after Wiri industrial precinct is for sale.
Tenanted by leading Australasian mattress manufacturer A.H. Beard, the freehold property at 260 Roscommon Rd is on a 10-year lease earning $507,896 net in annual rent.
Colliers International's industrial sales and leasing directors Brad Johnston, Dwayne Warby and Greg Goldfinch are marketing the property for sale by deadline private treaty.
closing at 4pm on Wednesday, May 19, unless sold earlier.
The property is featured in the latest Colliers Portfolio publication released yesterday. Johnston says investors are being offered the opportunity to acquire a top-tier industrial property with excellent fundamentals.
"Located on a high-profile site in one of Auckland's most popular industrial locations, the property at 260 Roscommon Rd in Wiri has an enviable mix of attributes," he says.
"Easy drive-around access and a low office-to-warehouse ratio ensure this versatile property is well-suited to a range of industrial users, from manufacturing to logistics.
"A strong tenant covenant and a long-term lease make this a tidy investment, while the property's substantial size and 42 per cent site coverage make it suitable for future redevelopment."
Johnston says Auckland's industrial market continues to go from strength to strength, with the prime vacancy rate at a low 1.5 per cent, and rents continuing to rise.
"Top-notch properties in good locations remain tightly held," he says.
"There simply isn't enough stock to satisfy investor demand, leading to a 35.5 per cent drop in transaction volumes last year to $1.07 billion, down from $1.66 billion in 2016.
"Against this competitive backdrop, properties with exceptional fundamentals remain at the top of investors' wish lists, making 260 Roscommon Road an astute buy."
The 4517sq m warehouse has a 6.4m stud height at the apex and multiple roller doors. Photo / Supplied
Warby says the property has a net lettable area of 5023sq m with a 4517sq m warehouse and adjoining single-storey office.
"The warehouse is an L-shaped structure in a double-bay configuration, with two openings providing access between the bays," he says.
"The main warehouse bay has a 6.4m stud height at the apex, with two rows of internal supporting columns. Access is via multiple roller doors at each end of the building.
"The second warehouse bay has a stud height of 5.6m at the apex. It includes a small office and amenity area with a mezzanine above accessed by an internal set of stairs."
Warby says the 505sq m main office fronts Roscommon Rd.
"This well-presented area has a mix of open plan space and partitioned offices, as well as a staff kitchenette and amenities."
The building is positioned in the middle of the substantial 11,903sq m site, ensuring the property has full drive-around capabilities.
"The remainder of the secure site has sealed asphalt allowing for effortless vehicle maneuverability and plenty of room for car parking."
Goldfinch says the property has an excellent profile to busy Roscommon Rd – one of Wiri's main arterial routes.
"Wiri is one of the fastest-growing industrial areas in New Zealand and is the base for many of the country's largest and most successful companies," he says.
"The area is widely considered to be one of Auckland's premier industrial and business districts, thanks to its excellent amenities and infrastructure."
The Roscommon Rd property for sale is within 3km of the State Highway 20 interchange, which provides a direct link to SH1 and the west via the Waterview Tunnel and SH16.
Nearby infrastructure includes the Ports of Auckland's Wiri Inland Port and Auckland International Airport, which is only 9km away.
Goldfinch says the area draws on a large pool of labour from surrounding suburbs and is well served by public transport, with the Puhinui Rd train station within walking distance of Roscommon Rd.
The property is zoned Light Industry, which allows for a range of uses that do not generate objectionable odour, dust or noise emissions.
This includes light manufacturing, production, logistics, storage, transport and distribution activities.
More than five years remain on the property's 10-year lease, which commenced in October 2013. A single five-year right of renewal extends the lease until October 2028.
Goldfinch says tenant A.H. Beard is one of Australasia's leading manufacturers of quality mattresses and bedding.
"The company was established in Australia in 1899 and remains in family ownership," he says.
"With operations in both Australia and New Zealand, A.H. Beard manufactures a range of different mattresses and works alongside chiropractors and other specialists to ensure their quality."
Local stockists include Harvey Norman, Bedstop and Furniture City, among others.
Goldfinch says the property's long lease, strong tenant covenant and solid fundamentals will appeal to a wide range of investors.
"Substantial, well-located industrial properties are hard to come by in today's market, so astute investors will not want to miss out on this top-notch investment opportunity."
