A large industrial property in Helensville which has been occupied by the JUCY rental vehicle company since 2010 is up for sale with a new lease in place to the global tourism business.
Located at 40 Saleyard Street, the offering encompasses 1.34ha of land with a modern, functional 3,912sqm industrial building and a large sealed yard area used for vehicle parking.
The property will generate initial annual rental income of $285,000 for its next owner from a new six-year lease to JUCY which commences on December 2, with two three-year rights of renewal. Fixed annual rental increases of two per cent will also provide assured future rental growth, says James Were, who is marketing the property with Bayleys Auckland colleagues James Hill and Travis Nicholls.
Featured in Bayleys’ latest Total Property portfolio, the property is for sale by tender closing 4pm, Tuesday October 22, unless sold prior.
“This is an attractive yielding investment opportunity in an area experiencing significant growth and transformation and with a well-entrenched, award-winning multinational tenant,” says Were.
Best known for its distinctive range of innovative green and purple compact campervans or mini-recreational vehicles (RVs), JUCY was started in 2001 in Auckland with a fleet of 35 rental cars, operating from a small garage in Parnell. In 2003, the company began fabricating its own custom built campervans for hire across New Zealand. In 2008, it launched a fleet of 100 compact campervans in Australia and by 2015 had a fleet of over 500 vehicles for hire there.
In 2012, JUCY opened offices in the United States, and by 2015 had 200 campervans on the west coast operating out of Los Angeles, San Francisco and Las Vegas. It currently has more than 4,000 cars and campervans for hire across New Zealand, Australia and USA and employs more than 400 staff.
In New Zealand, JUCY also operates two cruise boats in Milford Sound and JUCY Snooze tourist accommodation in Auckland, Christchurch and Queenstown.
The company designs and builds its vehicles through its own manufacturing division, called JUCY By Design, in Helensville as well as in Los Angeles. “Around 90 per cent of the staff who work at the in Helensville plant live in the area so the company is a major contributor to the local community and economy,” says Were.
The Helensvile fabrication building was constructed around 2010. It has a main workshop area with a seven to nine metre stud, plus some additional lower stud workshops which include partitioned store and workrooms, shower and bathroom facilities. There are also two levels of office and amenities which include a lunchroom, separate male and female bathrooms, reception area, open plan plus individual offices and a boardroom.
“There is excellent access into the building, with multiple roller doors on the front and side walls providing good flow and functionality along with the potential for future subdivision into smaller units,” says James Hill.
Travis Nicholls says because of comparatively low property prices, Helensville is an increasingly attractive place for residents wanting to get away from big city prices and large-scale urban congestion and building intensification.
“Development around Helensville is being assisted by zoning changes, including provision for 1.0-1.5ha sites, giving a rural amenity within an urban precinct,” he says.
The property for sale is located opposite the A & P Showgrounds. Neighbouring businesses include Fletcher Concrete and Balance Agri-nutrients.