Three of the best in popular Rosebank
Three stand-alone industrial properties over two separate parcels in the Rosebank Peninsula business precinct provide a substantial, seldom-available footprint on a strategic transport corridor, Bayleys salespeople say.
The properties feature a combined freehold site area of
1.097ha at 309-315 Rosebank Rd in one of the closest industrial precincts to Auckland’s CBD, in demand among distribution, logistical and manufacturing occupiers.
Bayleys director of capital markets and investment sales Layne Harwood says the Business– Light Industry zone landholding is offered at a time of high demand for industrial property across Auckland’s Northwest, as a shortage of appropriately zoned development land meets an uptick in warehousing and production requirements.
Harwood is marketing the properties with Rick Kermode and Nicky Joyce for deadline sale closing at 4pm, Thursday November
30, unless sold prior.
The fully occupied and wellmaintained industrial assets have a combined floor area of 6098sq m. They were developed in stages in
2004, 2006-7 and 2016-17, each comprising a modern construction type and a mix of distribution and manufacturing space, administration and amenities.
Kermode says three separate tenancies offer a split-risk investment profile with a total annual net income around $838,300 and a weighted average lease term of about 2.8 years.
“The properties feature high stud heights and quality construction with a generic design, ideally suited for various light industrial uses, including manufacturing, distribution and logistics.
“The current tenant profile provides for upside rental growth and a medium-term re-positioning opportunity,” he says.
Building cladding manufacturer and supplier Stoanz occupies 1413sq m at 309 Rosebank Rd with a five-year lease to July 2024 and one five-year renewal right.
At 311 Rosebank Rd, structural steel business Fabrication and Welding NZ occupies 1323sq m with a three-year lease to July 2026 and one three-year renewal right.
The third premises at 313-315 Rosebank Rd span 3362sq m and is occupied by specialist sub-contract component manufacturers Anglo Engineering, which has an eight-year lease to November 2025 and two four-year renewal rights.
Joyce says the ability to support three independent tenants is an excellent option for investors, with further potential should the new owner wish to reposition the site into a multi-use facility.