The North Shore industrial property housing a New Zealand-based global importing group has been put up for sale with possibilities for future redevelopment.
The two-storey warehouse, showroom and office premises for sale at 39 Rawene Road, Birkenhead, is leased to MACVAD Limited. Established in Auckland in 1962, MACVAD has grown from a family business into a successful international group of companies with offices in Sydney, London, Los Angeles, Chicago, Toronto, Johannesburg and Dusseldorf.
The company, which also has a team in China, works across international markets to source and supply a wide range of products including giftware, home textiles, clothing, home decor, garden, solar solutions and furniture.
MACVAD Limited occupies the approximately 1,941-square metre Rawene Road property on a new three-year lease running through to April 2024, with a further three-year right of renewal.
The lease generates annual net rental income of $320,000 plus outgoings and GST. It comes with a six-month bank guarantee and fixed annual rent increases lifting net income to $350,000 by the end of the current term.
The freehold land and buildings at 39 Rawene Road, Birkenhead, are being marketed for sale by deadline private treaty closing at 4pm on Thursday 29 April (unless sold earlier), through Bayleys North Shore.
Salespeople Matt Mimmack and Ranjan Unka said the premises for sale sat on a site of some 3,457 square metres with 36 on-site car parks.
The 1970s industrial building consisted of two levels with partially refurbished amenities to the front and low to medium-stud warehouse space to the rear, Mr Mimmack said.
“The design and construction are functional and typical of similar-era industrial buildings. This incorporates warehouse and loading facilities, with the balance of the building comprising office, amenities and showroom areas.
“Open concrete stairs and a ramp located to the road front provide for pedestrian entry to the ground-floor offices and showroom. Exceptional views are afforded from the upper-level offices across the harbour towards the city,” said Mr Mimmack.
Located in a popular and well-established commercial and residential location in Birkenhead, the property lies on the western side of Rawene Road, around 250 metres south of its intersection with Hinemoa Street. The Auckland central business district is about a 15-minute drive away in normal traffic conditions.
Mr Mimmack said the site’s Business – Mixed Use zoning under the Auckland Unitary Plan presented attractive possibilities to add value or investigate future redevelopment.
“Typically located around centres and along corridors served by public transport, this zone provides for residential development along with mostly smaller scale commercial uses. It typically allows building heights of up to four storeys,” said Mr Mimmack.
Mr Unka said the diverse mix of buildings and uses in the area illustrated the range of activities it could support.
“The Rawene Road site’s northern neighbour is a former industrial building which is now occupied by a church. Further to the north, a site which was home to commercial and industrial development has recently given rise to an integrated, low-rise apartment complex,” Mr Unka said.
“Medium-rise apartment and townhouse complexes stretch further to the north, with other residential development located to the east and adjoining to the south of the Rawene Road site. A bush reserve is situated to the site’s rear western boundary.”
Mr Unka said Rawene Road’s proximity to a wide range of local amenities and services added further to the property’s buyer appeal.
“The site for sale lies a short distance to the south of the commercial centre of Birkenhead, which offers a rich concentration of community facilities including cafes, banks, shops and offices.
“The Highbury shopping complex, including a supermarket, is also located nearby in Mokoia Road.
“This attractive location, along with a lease to an established international business tenant, plus future development possibilities, will make 39 Rawene Road of interest to buyers seeking a quality investment with potential,” said Mr Unka.