Size, style and security in Hobsonville offering
An award-winning, A-grade industrial property in Hobsonville, with an established tenant signed to a long-term lease, offers prospective purchasers the opportunity to secure a prime asset in a rapidly developing industrial hub.
38-40 Westpoint Drive has 5094sq m of total net lettable area on two freehold titles totalling
8018sq m on a site zoned Business–Light Industry under the Auckland Unitary Plan.
Located in the Brigham Creek Business Park, the office and warehouse building is one of the most sizeable offerings to be presented to the market in Auckland this year.
The property is home to Autex Industries, specialist designers and manufacturers of innovative acoustics and insulation products. The company is selling the property as a sale and leaseback.
Autex is offering a new eight-year, triple net lease that will begin on settlement with two further rights of renewal for eight years each. The annual rental income will be $1 million plus GST with 3 per cent fixed annual increases and fouryearly market reviews.
Alongside the highly functional office and warehouse space, the property has 599sq m of canopy and 32 carparks. It has approximately
100m of frontage to Westpoint Drive. Hobsonville has undergone significant change in recent years with notable infrastructure improvements as well as substantial residential developments. It also benefits greatly from easy access to the motorway network, which is a short distance from the site.
Colliers directors Greg Goldfinch, Dhiru Patel and Craig Smith are marketing the property for sale by deadline private treaty closing at
4pm on Wednesday 16 November, unless sold prior.
Designed by Williams Architects and built by Macrennie Construction, the building was completed in 2019 and serves as one of Autex’s insulation, manufacturing and storage facilities.
The property comprises a modern, highquality industrial premises constructed to provide two adjoining units built to the same specification.
Each unit comprises high-stud warehouse accommodation, along with two levels of offices and amenities. In total there is 4616sq m of warehouse space and 478sq m of office and amenities.
Basic warehouse construction comprises reinforced concrete foundations and floors and full-height concrete tilt slab walls with a steel portal frame providing clear-span accommodation with a stud height of 8.8m, rising to approximately 12m at the apex of the roofline. The warehouse is fully insulated and soundproofed to the roof.
Each warehouse has two roller doors for access, which are protected from the elements by a cantilevered canopy.
The office construction comprises concrete foundations and floors, a combination of fullheight glazing and aluminium panel cladding, and long-run steel roofing. Solar panels are installed above each office to provide sufficient power to run the offices, reducing energy costs and operating expenses.
The mezzanine level provides top-quality office accommodation with suspended ceiling vented air conditioning and a glass partitioned meeting room with carpet floor coverings. The ground floor is open plan with first-rate amenities, including toilets, shower and a kitchenette.
Other site improvements include a large concrete sealed and fenced yard and carparking at the front.
Goldfinch says this is an outstanding building that offers superior functionality. “Given the building was recently completed, it has been designed with a modern and sustainable outlook to suit future-focused occupiers,” Goldfinch says.
“The property has been built over two titles, meaning future leasing flexibility down the track.
“The building received a Merit award in the industrial category at the 2020 Property Council NZ Property Industry Awards, which exemplifies the quality on display.”
Patel says this opportunity provides buyers with the chance to secure a property with a strong tenant covenant.
“Autex is an established global design business with offices across New Zealand, Australia, the UK and North America with more than 50 years’ experience.
“The new owner will be able to enjoy a steady rental stream, while the built-in annual rental increases and market reviews provide future rental growth throughout the existing long-term lease.”
Smith says the property sits among a range of high-profile businesses.
“Westpoint Drive is a main thoroughfare connecting both Workspace and Brigham Creek Business Park developments. The wider precinct is highly sought-after and houses national brand tenants.
“The property is approximately 20km northwest of Auckland’s CBD and within easy commuter distance of the CBD, West Auckland and North Shore suburbs.
“The site is also only five minutes’ drive from the newly opened Costco and is near the hugely popular Westgate shopping area that provides an extensive array of amenities.”