An office and warehouse facility with an established tenant in the Rosebank Peninsula industrial precinct in West Auckland is being presented to the market for sale and will catch the attention of buyers seeking an asset with a steady rental stream.
Starfish Interiors, a New Zealand automotive interior specialist that provides custom design and manufacturing solutions for the transport sector, has occupied the 782sq m property at 9 Copsey Place since 2011.
The stratum in freehold property is zoned Business – Light Industry Zone under the Auckland Unitary Plan and returns $125,000 plus GST in net annual rental income.
Starfish Interiors began a four-year lease in February that includes further renewals to provide a final expiry of 31 January 2034.
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There are future rent reviews and rental increase mechanisms to provide potential income uplifts for the new owner.
Strategically positioned just off the motorway, the building has excellent access with multiple roller doors and offers the tenant a high level of functionality to enhance its business operations.
Colliers Directors Matt Prentice and Jack Tuson have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 1 December, unless sold prior.
The warehouse at the property spans 586sq m, providing a high warehouse to office ratio. The office and amenities area on the ground floor measures 93sq m and there is supporting mezzanine office space with storage space. There are also 12 dedicated car parks.
Prentice, Director of Industrial Sales and Leasing at Colliers, says the existing occupant has demonstrated its commitment to the location through its new lease and length of tenure.
“This property will draw considerable interest from prospective purchasers seeking a passive investment opportunity that is underpinned by a highly established tenant,” Prentice says.
“With over 15 years of experience, Starfish Interiors is a one-stop shop for motorhome interior furnishings and transport seating, with products custom-made in New Zealand. The business also undertakes refurbishment work and manufactures customised products to suit individual vehicles and fleet requirements.
“The lease agreement includes future rent reviews that take place every two years and offer the potential to deliver a boost to the rental stream.”
Copsey Place sits off Rosebank Road, which has direct access to Auckland’s State Highway network, providing connectivity to all parts of the city.
Rosebank Road and the surrounding area are home to a broad mix of light manufacturing, warehousing, service-based businesses, and trade retail showrooms.
Tuson, Director of Industrial at Colliers, says the Rosebank Peninsula is one of Auckland’s most sought-after industrial hubs.
“Neighbouring Avondale offers access to key services and amenities, while the nearby Waterview Tunnel links the precinct with the Southwestern Motorway and the Auckland Airport corridor,” Tuson says.
“The Rosebank Peninsula is an area that benefits from sustained occupier demand with a sizeable workforce catchment.
“Overall, this property is a versatile industrial investment in one of West Auckland’s most established business locations.”
- Supplied by Colliers
