A standalone fully tenanted New Lynn light industrial factory is on the market for sale.
Located in New Lynn's industrial hub at 76 Delta Avenue, the property has a seismic rating of 70 percent IEP and has been tenanted by the same businesses for a number of years.
Fisher West Auckland Aluminum Joinery and Exlers Turf Contractors occupy the 1387 square metre standalone building on a 1387 square metre freehold site, which is being marketed by Bayleys Auckland salespeople Mike Adams and Jean-Paul Smit for sale by auction on July 17.
Mr Adams said the property is generating a combined yearly rental of $113,000 plus GST and both tenants have new leases that started in January last year, each with rights of renewal.
“Fisher West and Exlers have been at the property for long time and the property and location suits their business needs well,” he said.
R.A.N Aluminium trading as Fisher West Auckland signed a new six year lease and generates $89,000 plus GST rent a year. Lease renewal dates are 2024, 2026 and final expiry in 2028, with rent reviews to market rates in 2021, 2024 and 2026.
Exlers Turf Contractors signed a new four-year lease and pays $24,000 plus GST a year in rent. Lease renewal dates are in 2022 and 2024 with the final lease expiry in 2026. Rent reviews to market rates at renewal are built into the lease.
Fisher West Auckland manufactures glazed doors and windows for the construction industry from the main split-level factory/warehouse, with adjoining office, mezzanine floor and storage, while Exlers Turf Contractors operates its lawn and turf laying, sports field maintenance, fertiliser, erosion control, section clearing, truck and digger hire company from a ground floor warehouse with lean-to extension and rear yard.
The 586 square metre main factory has a large clean span warehouse with a stud height of five metres to the knee rising to seven metres at its apex. Access to the factory is through a roller door at the front of the property.
Adjoining the factory at the front of the building is the 39 square metre ground floor office/showroom, amenities and storage area with a 91 square metre mezzanine floor above.
Exlers Turf Contractors are to the rear of the property in a ground floor mix of 230 square metre low stud and 115.5 square metre medium to high stud warehouse, with a 17 square metre mezzanine office. Access is through two roller doors.
Getting to the rear of the property is by a right of way located between 78 and 80 Delta Avenue and there is also a pedestrian walkway through the rear of the main factory.
Mr Adams said the property would suit a range of buyers, including those wanting a standalone freehold property generating a passive return through to land bankers who could be considering plans for its long term use.
The property sits in New Lynn's light industry zone, which allows industrial businesses that do not generate objectionable odours, dust or noise as it is surrounded by a substantial residential suburb. Businesses able to operate in the area include manufacturing, production, logistics, storage, transport and distribution.
“New Lynn is one of Auckland's fastest growing commercial and residential suburbs close to the city,” said Mr Adams. It is close to the New Lynn town centre - the commercial hub of West Auckland, which has a mix of industrial retail and office businesses.
It has easy access to the Northern and Western Motorways as well as the recently completed Waterview Connection and to the surrounding commercial precincts of Rosebank Road, Mt Roskill and Kelston.
“The location is one of the property's underlying strengths combined with its favourable light industrial zoning,” Mr Smith said.