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Brand new standalone industrial in growing Hobsonville

Contributor:
Fuseworks Media
Fuseworks Media

A newly built, first-class industrial property with two long-term tenants is for sale in Auckland’s northwestern growth hub of Hobsonville.

Colliers International is marketing 3 Rawiri Place for sale by deadline private treaty closing at 4pm on Wednesday 28 November, unless it sells earlier.

Craig Smith, of Colliers’ West Auckland office, says the property comprises a 2,739.5sq m industrial facility on a 5,003sq m freehold site with full drive-around access.

"This superb investment comprises a new, modern standalone industrial building with a clear-span sprinklered warehouse, modern air-conditioned offices and 32 off-street car parks.

"It is offered to the market with two new tenancies in place returning $483,795.50 plus GST in net annual rent.

"Anchor tenant Hoop is a leading provider of outsourced retail solutions including shelf restocking and brand activation. The company is signed to an eight-year initial lease with a bank guarantee.

"Leighs Construction is on a six-year lease underwritten by the vendor, providing a guaranteed source of additional rental income.

"The building has been split into two distinct areas, with Hoop occupying the front of the building and Leighs Construction occupying the rear.

"With its favourable leases, high-spec modern construction and excellent growth location, this makes for a solid bottom-drawer industrial investment."

The property for sale, featured in the latest Colliers Portfolio, is located within the popular and fully committed Workspace industrial subdivision, which comprises 22 freehold sites.

Some 90 per cent of the development is either complete or under construction.

"Workspace is a sought-after subdivision housing national tenants such as SPCA, Makita, Sherratt Foods and BidFood," says Smith.

"The property for sale is well located on Rawiri Place, which comes off Westpoint Drive, a main thoroughfare connecting the Workspace and Brigham Creek Business Park developments.

"The immediate neighbours are Hilton Brown Swimming and Black Steel Mobile."

Industrial specialist Matt Prentice, of Colliers International’s North Shore office, says Hoop leases a 1,490.4sq m warehouse, 515.8sq m of offices and amenities, a 293.4sq m canopy and 23 car parks.

"The high stud warehouse has a minimum height of 8m at the knee and provides excellent natural light throughout. It is accessed via two motorised rollers doors, with the drive-through canopy providing for all-weather loading and un-loading capability.

"The fully air-conditioned office is split over two floors, with access to the ground floor open plan offices via double glass doors.

"Amenities on the ground floor include a disabled toilet and shower facility, lunchroom and three toilets.

"The first floor, accessed via stairs at the entrance, offers open plan office space, a boardroom, meeting rooms, a small kitchenette and two further toilets."

The Hub International Limited, trading as Hoop NZ, is signed to a new lease returning $359,870.50 plus GST in net annual rent, backed by a bank guarantee.

The lease contains one right of renewal of six years, plus two further renewals of three years each, extending the total term to 20 years.

Fixed 2.5 per cent rental increases take place annually except for every third year and on renewal, when ratcheted market rental reviews are due.

Leighs occupies a 676.2sq m warehouse, 174.3sq m of all-weather canopy, 209.3sq m of open-air canopy, a small 32.1sq m office and amenity area, and seven car parks.

The warehouse is accessed via two roller doors under the all-weather canopy, with a further two roller doors at the rear of the building under the open-air canopy.

The vendor’s underwritten lease returns $123,925 plus GST in net annual rent, with 2 per cent annual increases every year from settlement. There are no rights of renewal.

The warehouse is constructed of reinforced concrete foundations and slab floors, precast concrete walls with steel profile sheeting, and a structural steel frame supporting steel roofing.

The 6m stud canopies are constructed of cantilevered steel with steel roofing.

The exterior of the office is finished with pre-cast concrete and glazed with aluminium joinery.

The property is located 20km northeast of Auckland’s CBD and within easy commuting distance of the CBD, western and northern suburbs.

Access to the area is via the Upper Harbour Motorway, which links up with State Highway 1 to the northeast, and SH16 to the southwest, providing a route to the airport via SH20.

The area is undergoing enormous residential and industrial development. Hobsonville Point to the east will soon be home to more than 10,000 residents in 4,500 homes.

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