Tidy industrial unit in popular Wiri location
JLL marketing 57E McLaughlins Road, Wiri
A tidy, industrial unit in a modern industrial complex on McLaughlins Road in Wiri is being marketed for sale through Sam Smith and Mitch Broderson of JLL. The property is to be sold through expressions of interest campaign closing 4pm, Wednesday 10 October.
Zoned Heavy Industrial the property is one of seven units in the complex and has a 1,289sqm warehouse, office space over two levels of 228sqm, canopy of 50sqm and 19 carparks. There is also shared yard space available.
The property is leased to a supplier and distributor of hygiene products, Premier Hygiene and returns $160,000p.a + OPEX. The lease expiry is in 2020 with one three year right of renewal remaining, however there is a 12 month termination clause in place for both the tenant and property owner.
“This is a very attractive investment or owner/occupier opportunity, as it is only on rare occasions that properties such as this become available for sale,” explains Smith.
“Wiri is one of the fastest growing industrial precincts in Auckland. The area is well-known for having large parcels of land suitable for industrial and because of this, high quality design build properties and some prominent companies can be found here, with more looking to move into the area on a daily basis. Logos recently purchased a 10ha site in Wiri with plans to build a $200m industrial estate for large format logistic operators, ecommerce and 3PL occupiers.”
Demand in the area is also high due to the property’s accessibility to main arterial roads and its proximity to Auckland International Airport, which is only 11 minutes drive away.
Traffic count for the McLaughlins Road area has progressively grown over the past five years and now sits at close to 23,000 vehicles per day passing along the main arterial of Roscommon Road, which is the closest main arterial to the property.
According to the recently released JLL Pulse report for Q3 2018, vacancy in South Auckland has decreased by 36 basis points from 1.6 percent since the second half of 2017, which is the lowest level since JLL records began in 1993. The report also indicates that South Auckland industrial rents are also tracking upwards and have been for the past three years with the average prime combined rental rate sitting at $153 per sqm, which is up from $143 per sqm in the first quarter of 2018. Yields are also tightening with the average prime industrial yield now at 5.65 percent.
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