Upright says the property is zoned Working Environment Lincoln within an industrial precinct and will be zoned Light Industry under Auckland's Proposed Unitary Plan, allowing for manufacturing, production, logistics, storage, and transport and distribution facilities.
He says well-presented industrial premises of this size don't come up often, and this property presents attractive future possibilities.
"Buildings of this scale and quality are in demand, especially in popular industrial precincts like Henderson. With very stable returns on offer for the remaining few years of the tenant's lease, we expect this property to be an appealing proposition for purchasers looking to buy well in a good location."
The tenant, Interpac, is a specialist folding carton manufacturer producing quality products and packaging solutions, which was recently bought by Huhtamaki (NZ) Holdings. Nearly three years is left on the lease but the tenant has an option for early exit from February 2016 with a six-month notice period.
"The immediate scenario allows prospective buyers to secure this investment for their portfolio and leave the current tenants in place," Upright says. "However an owner-occupier could expedite availability of the property for their own purposes."
Warby says the premises comprise an attractive, high-specification work environment that will suit a wide range of future tenants or occupiers.
"The complex commenced as a 1995 warehouse and office building that was extended in 2000 and again in 2006. The building areas are linked internally to provide an efficient work space. The latest warehouse addition is used for printing packaging and benefits from a positive pressure system, which aids dust control."
Warby says warehouse construction is a medium stud height, steel frame with part concrete tilt slab and part profile steel cladding, including long-run profile steel roofing. Tar-sealed areas outside provide generous car parking and a large level yard suitable for truck access and containers.
"Having sufficient sealed space to be able to turn and manoeuvre large, articulated trucks on site with ease is an increasingly difficult proposition in crowded, fast-developing industrial locations.
"However this property at Paramount Drive has that space," says Warby.
He says the location and motorway access make it especially suited to a distribution-focused company.
State Highway 16 is accessible from the nearby Lincoln Rd interchange and the new Western Ring Route will improve travel north. The Waterview tunnel will reduce travelling times by bypassing the Auckland CBD and giving easier access to Auckland International airport and the SH1 motorway.
"Paramount Drive also links Lincoln Rd and Central Park Drive - the two main industrial-commercial streets in Henderson," Warby says. "This developing locale is occupied by a wide range of branded businesses drawn by its closeness to the Auckland CBD, the motorway network and having large residential areas nearby.
"Staffing is always an important consideration, and West Auckland offers the dual benefit of established and ever-growing residential catchments within a very short commute of significant industrial parks like this one."
