You can’t beat a good Western

Afactory/offices property for sale in Kelston, is receiving added attention due to improved transport links slated for West Auckland. The building — at 34-36 Cartwright Road — is to be auctioned on April 20, at the NAI Harcourts Auction Room in Hurstmere Rd, Takapuna.

It is being sold by Marty Van Barneveld and Andrew Bruce of NAI Harcourts North Shore, who point out that such offerings have benefited from the anticipated Western Ring Route and Waterview Tunnel Project.

“These are to dramatically improve traffic flows in-and-out of West Auckland,” says Van Barneveld.

“In property terms, they’ve brought a new meaning to the saying, ‘you can’t beat a good Western’.”

He describes the offering at 34-36 Cartwright Rd as a standalone roadfront property, usefully located in the Kelston industrial precinct.

It comprises about 948sq m of manufacturing office space.

“Sitting on a large, level 2092sq m site, the property is leased to the New Zealand-owned and operated cabinetry business, Image Interiors,” says Van Barneveld.

“The building was originally split into three tenancies; however, Image Interiors now occupies the whole building. The business was established in 2004 and is now a highly successful operation with a focus on outstanding craftsmanship, specialising in high-end hospitality fitouts. Image Interiors holds a fouryear lease, which commenced October 2016, with two rights of renewal for two years.”

Bruce says the current rent is $80,217, plus operating expenses, with an annual market reviews capped at 10 per cent. “This property has strong rental growth potential. This is an absolutely unique opportunity to secure a tenanted freehold investment in a sought-after area.”

Kelston is a popular commercial location, with low vacancy rates.

“It’s popular with small to medium sized industrial businesses seeking to capitalise on the excellent supply of local skilled and semi-skilled labour living in the immediate area. Indus- The standalone road-front property is leased to cabinetry business Image Interiors.

The building is estimated to have been constructed in the late 1950s-1960s, with more recent extensions and upgrades including re-cladding of exterior walls and roof. Both the warehouse/manufacturing area and front offices and amenities have also been refurbished.

Under the Unitary Plan the property is zoned Business-Light Industry, which allows for industrial activities that do not generate objectionable odour, dust or noise.

Van Barneveld says the property provides a good holding income and excellent potential for future growth.