Dishwasher firm makes clean break
A freehold stand-alone light industrial property with scale in West Auckland’s preferred Rosebank Rd precinct is for sale as its long-term occupier relocates for expansion purposes.
The approximately 8679sq m site is at 414-416 Rosebank Rd with the tenant, commercial dishwasher manufacturer Washtech, having a lease in place through to April 3, 2024.
The property has existing buildings spanning around 2900sq m comprising mainly of warehousing with supporting office and staff amenities, a substantial yard of approximately 1500sq m and parking for around 70 cars.
After 24 years on-site, Washtech is moving its operations. Having outgrown the existing premises but recognising the locational and operational advantages of this highly contested industrial precinct, the business is relocating close by.
The property has future development or complete redevelopment potential, with agents saying the shortage of favourably zoned land in the region and the enduring popularity of Rosebank Rd make this a compelling opportunity.
Alister Hitchcock, Craig Smith and Mark Preston of Bayleys Northwest are marketing the property via expressions of interest closing December 6, unless sold prior.
Hitchcock says the location, size of the landholding and the extremely tight industrial
leasing market underpin the site’s credentials and there’s strong inquiry.
“There’s a good chunk of land on offer and with Rosebank Rd always tightly held by discerning investors and owner-occupiers, it’s genuinely the sort of opportunity that seldom comes around.”
Hitchcock says the site is set back from the road offering some privacy and the Light Industrial zoning allows a variety of options to be explored. “Given the current market, addvalue investors might want to explore ways to refurbish or rejig the existing buildings.
However market intelligence suggests this site would support a multi-unit development project to provide accessible and right-sized industrial space for smaller businesses.
“With holding income in place through to the end of April 2024, there’s cashflow to look forward to while plans, designs and consents are worked through. Alternatively, an owneroccupier could look to undertake a designbuild with a buffer through to 30 April 2024, confident in the knowledge that Rosebank Rd has proven longevity.”