Landmark Warehouse store in town centre
A high-profile large-format retail premises that has housed The Warehouse in Clendon Park, South Auckland, for nearly 30 years is for sale.
Located on a prominent 5500sq m corner site, the property is an integral part of the popular Clendon Shopping Centre.
The Warehouse has been in occupation since the high-stud bulk retail premises was built in the mid1990s. The well-presented building underwent extensive upgrades and refurbishment around eight years ago.
Rights of renewal, if taken up, extend The Warehouse’s lease to 2041.
A further lease of the on-site telecommunications tower to 2degrees means the fully tenanted property generates a total annual rental of approximately $603,349 plus outgoings and GST.
With the property appearing to be significantly under-rented, this suggests future upside for the purchaser.
The freehold land and buildings at 469 Roscommon Rd are being marketed by Cameron Melhuish, Mike Houlker and Tony Chaudhary of Bayleys Real Estate, by tender closing Thursday June 20, unless sold earlier.
Melhuish said the approximately 3399sq m building sat on 5547sq m of land zoned Business– Local Centre under Auckland’s unitary plan.
“The main retail area spans more than 3000sq m with a stud height of 6.8-8.8m. It is constructed with tilt slab and long-run steel perimeter walls, concrete flooring, and an exposed ceiling with translucent panels providing good natural light in addition to the suspended lighting inside.
“A more than 200sq m back-of-house warehouse area at the rear of the building provides roller-door access to the loading bay. These areas are supplemented with nearly 140sq m of office and amenities,” Melhuish said.
Houlker said the property benefitted from significant frontage to main arterial Roscommon Rd and the Weymouth Rd roundabout, ensuring excellent exposure to high volumes of traffic.
“Carparking for around 32 vehicles is available on site and the property also benefits from shared parking in the shopping centre’s common carparks.
“Major tenants in the centre and surrounding area are complementary to The Warehouse. These include a Pak'n Save supermarket, McDonald’s restaurant, Mobil service station, NZ Post, Pizza Hut, a medical centre and various specialty stores,” said Houlker.
Chaudhary said Clendon Shopping Centre was centrally located to service major residential catchments spanning Clendon Park and surrounding suburbs.
“The centre is positioned at a major roundabout that links Roscommon Rd and Weymouth Rd, two key arterials linking Wiri to the north and Manurewa to the east.
Clendon Park is also flanked by the popular coastal residential suburbs of Weymouth and Wattle Downs to the south.
“The property for sale is within walking distance of major public transport networks including bus and train, around 6km from the Southern Motorway and 10km from the Manukau commercial area,” Chaudhary said.