A substantial industrial facility in Whangārei that is home to an internationally renowned freight and logistics tenant is available for purchase, giving buyers the chance to acquire an asset with a steady rental stream and long-term upside.
5-9 Dyer Street, Whangārei, has approximately 7,340sq m of total net lettable area on a 13,721sq m landholding.
The highly visible buildings are positioned toward the eastern boundary, creating an extensive forecourt with dual access points while there is sealed yard space and parking areas. The property has 120m of road frontage.
Australasian firm Team Global Express is the tenant, and the business occupies 5,340sq m of warehouse and office space, leaving 2,000sq m of vacant warehouse space.
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The tenant’s eight-year lease runs until September 2028 and there are three rights of renewal for three years each, leading to a final expiry in September 2037.
The lease returns $493,334 plus GST and operating expenses per annum, and includes annual CPI rent increases and future market reviews.
The freehold property, zoned Light Industrial, benefits from its strategic location in the industrial hub on the southern approach to Whangārei.
This precinct provides convenient access to State Highway 1 via nearby Rewa Rewa Road, a key arterial route connecting the city centre, southern suburbs, and wider Northland region.
Colliers Directors Megan McGregor and Matt Prentice have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Thursday 8 October, unless sold prior.
The high stud industrial building at the property offers a mix of warehouse, office, and amenity accommodation. It was originally constructed in the mid-1970s and has been expanded over time, including the addition of the clear span tilt slab warehouse in 2002.
Prior to Team Global Express taking occupation in 2020, the facility benefited from significant capital investment, including a new office fit-out and upgrades to the rear warehouse.
McGregor, Director at Colliers Whangārei, says this is a purchasing opportunity that warrants serious consideration from discerning investors.
“Team Global Express, a leading Australasian freight, transport, and logistics operator, is a blue-chip tenant,” McGregor says.
“Backed by Allegro Funds, the firm operates an extensive transport and logistics network throughout Australia and New Zealand that services hundreds of locations.
“This facility forms part of the company's Northland freight and distribution network and includes an MPI-approved transitional facility, supporting the handling and processing of imported goods subject to biosecurity controls.”
Sitting only 500m from State Highway 1, the property provides the tenant with excellent accessibility to the motorway network, while also being less than 5km from the centre of Whangārei.
Well-known businesses in the surrounding area include New Zealand Couriers, PTS Logistics, Bidfood, Harvey Norman, and Bunnings, among a host of others.
Prentice, Director of Industrial Sales and Leasing at Colliers, says the property also gives buyers the opportunity to unlock future value through utilising the vacant space.
“The vacant space largely comprises the original building at the subject location and presents the new owner with the chance to add an additional tenant or redevelop it to enhance the income stream from the property,” Prentice says.
“This is a high-quality asset that has a longstanding presence in one of Whangārei’s most convenient industrial locations. This property offers immediate cashflow and long-term growth potential.”
- Supplied by Colliers
