Henderson Industrial Investment Underpinned By Diverse Tenants

A versatile, fully-leased Henderson site combining warehouse, workshop, office and yard areas has been put up for sale, offering diversified income from three business tenants.

The freehold standalone building and secure yard for sale at 10 Amokura Street lie in the heart of the established Henderson industrial precinct, close to Henderson town centre.

The property is occupied by a wooden furniture manufacturer established in Henderson over 30 years ago, along with a New Zealand maker of eco-friendly food containers and a business providing rentals of portable cabins.

The three tenancies generate combined net rental income of $105,500 plus GST per annum.

The property at 10 Amokura Street, Henderson, is being marketed for sale by tender (unless sold prior) closing at 4pm on Tuesday 24 August, through Bayleys Real Estate.

Salespeople Phil Haydock, James Were and Mark Preston said the Amokura Street property consisted of a building of some 744 square metres on approximately 2,122 square metres of freehold land.

“Tenancy A comprises two levels of office accommodation to the front, totalling some 118 square metres, and approximately 355 square metres of low to medium-stud warehousing behind. The ground and first floor include an open-plan area and amenities including a toilet, shower and kitchenette,” said Mr Haydock.

“The warehouse is split into two bays. The front bay has an approximately 2.8-metre stud height and suspended grid ceilings with a small roller door. The rear bay has a stud of some 3.1 metres rising to 3.5 metres at the apex with a small roller door to the rear.”

The office and warehouse areas of Unit A are leased to Black Sand Furniture, generating annual rent of $42,500 plus GST on a lease that runs through to 2024 with a further three-year right of renewal.

Three further units provide office and workshop areas with a combined floor area of some 270 square metres. These fall under a single commercial lease to Papyrus NZ, a New Zealand manufacturer and supplier of biodegradable food containers. The company pays annual rent of $40,000 plus GST on a lease extending to 2022 with two further two-year rights of renewal.

“Unit B has an open-plan office, two separate rooms and amenities including a new kitchen. Unit C comprises a low-stud workshop with offices. The unit is accessed by a shared entrance that is essentially a semi-enclosed area. Unit D offers another open-plan office area, three associated rooms and amenities,” said Mr Haydock.

An approximately 810-square metre yard is leased to Just Cabins Ltd, which pays $23,000 plus GST per annum on a lease which runs through to 2023, with a further three-year right of renewal. This regular-shaped metalled area, near level with the road, is secured with a steel and wire fence to the front.

Mr Were said the Amokura Street site’s Business – Light Industry zoning allowed for numerous activities, including manufacturing, production, logistics, storage, transport and distribution, that do not generate objectionable odour, noise or dust.

“Positioned about 10 minutes’ drive from the Northwestern Motorway, the site is close to the wide-ranging amenities of Henderson town centre. These include retail and commercial services, community social infrastructure, excellent open spaces and a well-established transport hub,” Mr Were said.

“Henderson is home to the large WestCity Waitakere shopping centre, along with numerous other shops and large-scale stores, which draw people into the area from a wide catchment.”

Mr Preston said the heart of the suburb was being reimagined as a flourishing urban eco centre.

“Auckland Council’s property development arm, Panuku, is leading the creation of a safe, high-quality and lively mix of new homes and public spaces with the aim of attracting families, businesses, investors and visitors to this growing area,” he said.

Henderson town centre is one of very few areas zoned ‘Metropolitan Centre’ under the Auckland Unitary Plan, permitting development up to a height of 72.5 metres.

“Being so close to this area designated for high-density growth makes the Amokura Street site a highly strategic acquisition for investors or developers with an eye for the future,” Mr Preston said.

Click here for more information on the listing.

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