Star West Auckland industrial
Amodern warehouse and office property in West Auckland, occupied by a well-known printing company, has been placed on the market as a quality investment property in the sought-after industrial sector.
“This building is still leased by its original tenant, national print communications company, Blue Star Group,” says Paddy Callesen of Savills who is marketing 8-14 Collard Place, Henderson, for sale by deadline private treaty closing at 4pm on Friday May 10.
“The property is also owned by its initial purchaser, an overseas investment group, which acquired it when it was built in 1996,” Callesen says.
“It has been occupied over the long term by Nicholson Print Solutions, a business unit of Blue Star Group, and is now being sold by the investment group which is divesting the last of its New Zealand assets.”
Nicholson Print Solutions was originally established as a family owned enterprise before joining the Blue Star group.
It has a team of around 90 people and operates a state of the art offset print plant at Collard Place, including a fleet of Heidelberg sheet-fed presses and a latest-generation digital print facility.
Callesen says Nicholson’s Collard Place facility is “highly impressive” with the company having invested in four top-of-the-line sheetfed printing presses, image control, digital printing capacity and a full in-house bindery.
Blue Star Group recently signed a new lease to the property, taking its current term through to early 2024. The annual net rent of $422,029 also give a new owner income growth, with rent reviews every three years equating to the greater of either current market levels or the compounded Consumer Price Index.
The building, constructed in 1996, contains a large warehouse and two levels of offices spread across 2787sq m of gross floor area. The facility is fully air conditioned, with refurbished office space providing high-quality, open-plan, work and meeting areas, along with a staff cafe and courtyard.
Callesen says the clear-span warehouse and production area is also presented to a high standard, with a single-pitch roof ranging from 6m to 8m in height with suspended ceilings. Roller doors provide access to a yard
area and 51 on-site car parks.
“This is a modern, well maintained and highly impressive printing facility in which Blue Star has invested heavily. It’s the kind of industrial complex an investor would be proud to have in a portfolio,” says Callesen.
The property is located in the Henderson commercial and industrial precinct, which is sought-after among tenants and investors due to its high quality building stock and relative closeness to the Auckland central business district.
The 4110sq m freehold site is zoned Light Industry and is at the southern end of Collard Place, a cul de sac off Central Park Drive, which in turn links directly to Lincoln Rd just off the State Highway 16 Northwestern
It’s the kind of industrial complex an investor would be proud to have. Paddy Callesen
motorway. “This property is in the heart of the Henderson commercial area, which has become a highly regarded business precinct in recent years due to the rapid pace of population growth in West Auckland,” Callesen says. “The Lincoln Rd and wider Henderson business area is now very much a mixed-use commercial location, with a range of occupiers operating in medium scale manufacturing, warehousing, bulk retail and showroom properties.”
He says the recent growth of the Henderson commercial precinct now means the area has become an attractive place for staff to work, with a range of retail and services including cafes, gyms and supermarkets in the immediate surroundings.
“Businesses in this area have also benefited from the greatly-improved regional transport connections, with the Waterview Connection opening up direct access to South Auckland and bypassing the Auckland CBD.”
“Companies operating in Henderson have seamless motorway transit links west, north and south, which has put this area firmly on the map as a highly desirable base for a great variety of commercial and industrial occupiers.”
Nicholson’s parent, the Blue Star Group, is the largest print provider in New Zealand, with 11 sites and 12 different brands. “Blue Star is a longstanding Kiwi success story, operating as a group of independent businesses. The strong tenant covenant and the commitment it has made to its Collard Place facility, makes for a very high-calibre investment property.”