Mexican food maker’s premises are tasty offering for investors
The freehold industrial premises housing a top New Zealand manufacturer and distributor of Mexican foods has been placed on the market.
The property sits on a corner site on Ben Lomond Crescent in Pakuranga industrial precinct.
It is fully leased to La Maison Foods, a privately-owned producer of corn chips and tortillas.
A long-established occupier since the company was founded over 25 years ago, La Maison Foods will pay annual net rent of $200,180 plus outgoings and GST on a new eight-year lease to begin at settlement.
The lease agreement will include four further four-year rights of renewal, with built-in 2.5 per cent annual rental growth, plus market rent reviews and a 12-month bank guarantee.
The property at 53 Ben Lomond Crescent, Pakuranga Heights, is being marketed by sole agents Nelson Raines and Tim Bull of Bayleys South Auckland.
Sale will be by deadline private treaty closing on Wednesday 27 April, unless sold prior.
Raines said the offering consisted of an approximately 1000sq m building on some 2016sq m of freehold land at the corner of Ben Lomond Crescent and Rylock Place.
“The bulk of the building comprises a highly functional clear-span warehouse/ factory of some 868sq m with access via three roller doors.
“The remainder is made up of office and mezzanine areas of approximately 51sq m and 80sq m respectively,” Raines said.
The structure has an A-grade Initial Evaluation Procedure seismic rating of 90 per cent of new building standard.
“The building is complemented with more than 600sq m of yard which is accessible by two entry/exit points on Rylock Place.
“With more than 90m of frontage to Ben Lomond Crescent and Rylock Place, the site offers the potential for access from both thoroughfares,” said Raines.
The property’s Business–Light Industry zoning supports smaller-scale industrial activities in areas such as manufacturing, production, logistics, storage and transport, that do not generate objectionable odour, dust or noise.
Bull said the Pakuranga precinct was home to well-established light-industrial tenants including manufacturers, homeware and building suppliers, automotive and engineering firms and marine suppliers.
“Ben Lomond Crescent is unique in that it offers light-industrial activity within a few minutes’ drive of a large residential catchment, as well as being close to the major manufacturing and distribution hub of East Tamaki,” he said.