Logistics facility for sale in airport hub
A large A-grade industrial warehouse near Auckland Airport, leased to an ASX-listed logistics company, has been put up for sale for the first time.
The modern high-stud, clear-span warehouse with offices and chiller facilities is positioned on one of only six corner sites in the established Airport 1 industrial precinct within 2km of Auckland International Airport.
The freehold property at 74 Richard Pearse Drive is leased to Wiseway Logistics, an Australian-based transport and logistics operator.
Wiseway’s tenancy generates net rental income of $432,938 plus outgoings and GST per annum.
Its current lease runs through to 2025 with two further three-year rights of renewal.
The lease features built-in annual CPI rent reviews, with market reviews at every third anniversary, plus a six-month bank guarantee.
Colliers has been exclusively appointed to market 74 Richard Pearse Drive for sale by deadline with offers closing at 12pm on
Wednesday 7 July, unless sold earlier.
Brad Johnston, industrial director at Colliers, says the building has a net lettable area of some 3116sq m and sits on approximately 5416sq m of freehold land with ample on-site carparking.
“This is a modern industrial facility with offices across the front elevation and a high-stud warehouse with small chillers and environmental loadout areas to the rear.
“The front entrance opens to the reception foyer, with a concrete stairway leading to the upper level. The office layout is predominately open-plan, with three managers’ offices and a general office with a central partition.
“The balance of this level houses amenities linking to an attractive covered courtyard area with motorised sunshade, a server room and a boardroom with sliding-door access. The entry and first-floor offices have a combined area of some 372sq m,” says Johnston.
“The clear-span warehouse of some 1628sq m has a 10m stud height. Translucent panelling in the ceiling provides the interior with plenty of natural light and this is supplemented, when required, with energy-efficient hanging fluorescent tubes.
“The site is highly functional, allowing full drive-around fenced access, with primary access to the property from Richard Pearse Drive,” Johnston says.
Paul Jarvie, industrial director at Colliers, says the site’s Business – Light Industry zoning allows for a variety of industrial activities that do not produce objectionable odour, dust or noise.
In addition to logistics, these include light manufacturing, production, storage, transport and distribution.
“Positioned on the corner of Richard Pearse Drive and Airpark Drive, this property sits in the heart of a well-established hub of industry which is experiencing significant growth.
“Auckland Airport is considered a premium industrial location and property in the vicinity is tightly held,” Jarvie says.
“The area is a stronghold of medium to large-format industrial buildings, with near neighbours of the site for sale including the likes of Synlait, Mondiale, Hellmann Worldwide Logistics, DHL, Mainfreight and other key logistics and transport operators.”