For Sale by Negotiation
The property comprises a multi-tenanted industrial complex underpinned by a Heavy Industrial zoning, offering flexibility for a wide range of intensive industrial uses. The improvements combine original 1970s buildings with more recently developed high-stud facilities, providing a functional mix of medium to high-stud warehousing and office accommodation. The asset is fully leased to a diversified tenant profile, delivering the benefits of a split-risk income stream. The property provides a weighted average lease term (WALT) of 6.5 years, offering income security with built-in tenure. Warehouse stud heights range from medium stud through to approximately 8.9–10.0 metres, with multiple roller door access points and good natural light. Office accommodation varies from basic and functional through to modern, fully fitted two-level spaces within the newer improvements. Overall, the asset represents a well-located industrial investment with secure cashflow, favourable zoning, and a diversified tenancy profile, providing both income resilience and future add-value potential.
The property is located within the ‘golden triangle’ of New Zealand’s major growth cities of Auckland, Hamilton and Tauranga, whose regions make up 56% of New Zealand’s population and accounts for 55% of New Zealand’s GDP. New and upgraded roading links in the area and the Drury Train Station further illustrate the ongoing growth nearby. Location, transport and local population mean that Papakura is ideally placed to benefit from current and future growth initiatives. SH1 access is approx 5.6 minutes West of the property while significant new roading upgrades planned nearby will only add to the property’s long-term appeal.
Features:
- Net Lettable Area 5,496.6m²
- Site Area 9,091m²
- Rental Returning $896,840 net p.a. + GST
- 4 Separate tenants across 6 self-contained tenancies
- Drive through & dual access via Hunua Road and Crosley Road
- Mix of modern and well maintained improvements
- Zoning Heavy Industrial
More information: https://www.colliers.co.nz/p-NZL67039767
