Weekend Herald

Flagship on market in prestige precinct

- — Article supplied by Bayleys

As the innovative Woollen Mills industrial precinct in Onehunga nears complete sell-down, a large freehold unit-titled and fully-leased flagship unit has come to the market.

As the highest specificat­ion unit within the complex and arguably the best industrial investment unit available in today’s market Auckland-wide, Unit 3/273 Neilson St is leased to Maximo, a wellrespec­ted firm in the constructi­on sector.

The 1018 sq m property fronts Neilson St and comprises a substantia­l and stylish ground floor showroom, open-plan office with good natural light and full amenities, 614 sq m clear span high-stud warehouse with roller door access from the rear, and 16 dedicated client and staff carpark spaces.

The property is being marketed by James Valintine, Sunil Bhana and James Hill of Bayleys South Auckland.

It will be sold by deadline private treaty closing Tuesday 29 July, unless sold prior.

Valintine said this is a quintessen­tial bottom-drawer investment propositio­n for a buyer who recognises the building’s quality, its position within a thoughtful­ly designed and executed industrial precinct and the credential­s of the tenant.

“It’s a trophy investment property that will quietly pull its weight in any portfolio,” said Valintine. “It’s brand new, has that ‘just out of the box’ feel, it sports some clever architectu­ral features and the fitout is high-end.

“Add in the national tenant Maximo and a well-structured lease with fixed growth and the bank will be happy.”

Hill said the company will enter into a six-year lease from 1 October 2021 paying $241,940 pa net + GST.

“In addition, the lease includes a bank bond, 3 per cent annual fixed growth and one four-year right of renewal taking the final expiry to 30 September 2031.”

Unit 3 is one of the largest offerings within the fully-gated and secure Woollen Mills complex.

The sleek ground floor showroom component has black ceiling tiles, polished concrete floors, full-height glazed frontage, good natural light, first floor office space, wellappoin­ted staff amenities and a functional warehouse.

Bhana describes the Woollen Mills precinct as Auckland's most prestigiou­s new gated industrial developmen­t and he’s impressed with the overall look and feel emerging.

“There are only four units across the 26-unit developmen­t yet to be sold and the precinct is looking great with the landscapin­g all in place and maturing nicely,” he said.

 ??  ?? Unit 3/273 Neilson St in the innovative Onehunga Woollen Mills precinct.
Unit 3/273 Neilson St in the innovative Onehunga Woollen Mills precinct.

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