Adjoining Industrial Blocks In Auckland Satellite Township Placed On The Market For Sale

Two industrial-zoned properties – one tenanted by a self-storage business and the other occupied by a long-standing spa pool manufacturer – in the Auckland satellite township of Helensville have been placed on the market for sale.

The neighbouring properties are located within Helensville’s industrial precinct, and comprise:

• A two-thirds share of a 1.1365-hectare block sustaining approximately 1,800 square metres of industrial warehouse and manufacturing plant buildings

and

• A one-third share of a 1.1365-hectare block of land sustaining approximately 764 square metres of self-storage unit warehousing, an office, and residential accommodation.

The larger of the two sites, 7 West Street, is tenanted by spa pool manufacturing and sales company Rota Ltd trading as Trueform Spa Pools on a current lease running through to 2024 generating annual of $108,000 plus GST, with three further three-year rights of renewal. A rent review of the site is scheduled for later this year, with further rental reviews linked to the Consumer Price Index every two years after that.

Locally-owned Trueform Spa Pools has been manufacturing spa pools for 35 years, and now exports its product range in addition to servicing the New Zealand market. The property’s infrastructure at the Helensville location comprises a series of differently sized sheds utilised in the various stages involved in spa pool construction – from framing, plumbing and detailing, through to the approximately 750-square metre main building within the site which houses Trueform’s retail showroom and administrative offices.

Substantial car parking for both Trueform’s customers and staff is contained within a gravel stoned yard in the middle of the shed buildings, which are situated around the property’s perimeter.

Meanwhile, located in what is a refurbished timber mill, the adjoining smaller property at 9 West Street is occupied by self-storage company tenant Storageville Limited which is committed to what will be a new sale and leaseback six-year lease running through to 2028 generating annual rental of $70,000 plus GST, with a further six-year right of renewal.

The Storageville business comprises 44 covered storage compartments located in terraced rows accessed by internal concrete floored corridors, with an additional 20 shipping containers uniformly stacked around the perimeter of the site. The front portion of the warehousing premises is a two-storey structure, while the rear potion is a single-storey medium-stud height building constructed in the 1960s, with extensions and alterations made in 1976.

Constructed on concrete foundations, with concrete masonry block walls under long-run iron roofing, the premises has B-grade seismic rating.

In addition to the storage units housed in some 438 square metres of warehousing and some 124 square metres of ground floor storage, the property also contains an approximately 39-square metre office on the ground level, and a modern open-plan four-bedroom owner/manager’s residence on the upper floor. Security cameras and an alarm system operate across the gated and fenced property.

The two adjoining flat topography properties at 7 and 9 West Street in Helensville just north-west of Auckland are now being marketed for sale separately by private treaty through Bayleys Auckland, with the treaty process for both listings closing on March 17 unless sold prior. Salespeople Stephen Scott, Matt Clifford and Beterly Pan said the configuration of the dual offerings meant the properties could be viewed either as standalone opportunities, or as a combined location – with the individual vendors open to all offers.

“There are multiple permutations for the sites – ranging from keeping them in their current demarcation under an investment focus, through to expanding the available land for Storageville by taking on land from its neighbour, or longer term, unifying the sites and creating a new purpose-built warehousing style hub of smaller industrial units, or a smaller number of bigger buildings,” Scott said.

“Alternatively, there is also the opportunity of freeholding the addresses into separate titles subject to council consent.”

The two addresses are located immediately opposite the rail line which connects Auckland and Northland, while the Kaipara River runs along the rear of the properties. The location within Helensville township is zoned Business – Light Industry under the Auckland Council Unitary Plan – allowing for manufacturing, logistics, storage, transport and distribution activities providing they are not involved in the creatin of objectionable odors, dust or noise.

Located on the edge of the town’s residential area, other industrial tenancies nearby to the West Street sites include Balance Agri-Nutrients, Discount Landscape & Garden Supplies, and Turck & Crane Transport Ltd.

Clifford said demand for industrial properties had remained resolute over the past two years at a time when other types of commercial property had faltered due to the ongoing economic effects and impact of COVID-19.

“Market indicators also show strong demand for industrial live/workspace – such as the opportunity at 9 West Street, which from an investment perspective has the added benefit of sustaining a going concern business,” Clifford added.

“The array of shed styles and sizes within the large site at 7 West Street, along with administrative offices, also offers a diversity of spaces for any future tenancies which could operate on a multiple occupancy basis.”

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