The modern office and warehouse property for sale at 3-5 Harbour Ridge Drive, Wiri.
The modern office and warehouse property for sale at 3-5 Harbour Ridge Drive, Wiri.
A new, multi-purpose office and warehouse building with an established tenant and further development potential has been put on the market in Wiri, south Auckland. The freehold investment property on a 9637 sq m site at 3-5 Harbour Ridge Drive, Wiri, is for sale by deadline private treaty, closing at 4 pm on Wednesday July 29 unless it sells earlier by negotiation.
Hamish West and Andrew Hooper of Colliers International are marketing the property and say its age and versatility make for an excellent opportunity.
"Ordinarily we see buildings coming to market that are around 10 to 15 years old," West says. "However, this is a contemporary, nine month old premises with modern amenities built by design and build specialists Euroclass.
"It's location in Stonehill Industrial Park, one of the most active development areas of new buildings in Auckland, adds to its appeal for investors."
West says there is potential for future development with the ratio of building to site usage giving scope to extend the structure and increase its foot print and net lettable area.
He says the property has a striking two-level, glass-surround office area at the entrance. "It is a conventional and very versatile industrial complex with 400 sq m of office space and a 1946 sq m warehouse at the back."
The Quarry zoned property is occupied by Auto Transform Limited with six years left to run on the lease from October 2014 including two, six-year rights of renewal. The site has net lettable area of 2640 sq m generating a rental income of $482,400 plus GST a year.
The tenant is an auto engineering company that has been in business for more than 25 years.
Hooper says the functionality and quality of the building presents an appealing workplace.
"The mainly open plan offices and meeting rooms are fully carpeted with a suspended ceiling and recessed fluorescent lighting, as well as being fully air conditioned throughout."
The warehouse is constructed of reinforced concrete strip footings with powder coated Colorsteel metal cladding and a galvanised steel roof. It has a nine metre stud height to the top of the portal knee and 10.2 metres to the apex.
A high stud, 214 sq m showroom adjoins the ground floor office that has separate dual roller door access. A standalone 80 sq m workshop is adjacent to the warehouse while 11 roller doors beneath a 564 sq m clear span canopy provide access to a large 4200 sq m yard with secure fencing.
Hamish West from Colliers International
"The site has generous secure yard areas which are typically not provided for in modern industrial developments due to high land values," says Hooper.
The northerly-aspect property has 130 metres of road frontage to Harbour Ridge Drive, close to the intersection with McLaughlins Road within the Stonehill Industrial Park.
Hooper says Wiri has become the focus of modern development over recent times, becoming home to a number of major manufacturing and distribution companies.
"Land in this precinct has been developing fast, with a number of medium scale industrial facilities going up. This is largely a result improved transport links and the scarcity of industrial land supply in South Auckland.
Andrew Hooper from Colliers
"Wiri is also now very popular as a business location due to its excellent motorway access. This access is about to get even better with the opening of the Waterview Connection, which will complete the city's western ring route and provide easy access to the north and west, bypassing the city centre," he says.
"The Waterview Connection will result in Wiri becoming one of the best locations in greater Auckland for businesses relying on road transport and the site is also close to the Nesdale and Puhinui State Highway 20 interchanges."
