The Property is a 6,860 sqm single story industrial property situated on a large 19,437 sqm site located in an industrial precinct in Otahuhu, Auckland. The property consists of an original warehouse constructed circa 1970 with a further warehouse addition added in circa 1995. Combined the improvements comprise a showroom/office, multiple warehouses and associated office components. The property is located in the sought after and tightly held industrial precinct of Otahuhu with close proximity to Princes Street and Great South Road, and excellent access to mainarterial routes of the Southern Motorway (SH1) and Southwestern Motorway (SH20). The Otahuhu commercial centre is located only a short distance to the east, offering typical strip retailing and ammenity. The Otahuhu train station is located 600m south of the property, whichprovides public transport options.
The site is relatively level in contour across the majority of the land, with an upwards gradient from Saleyards Road providing for a slightly elevated position. Main access to the site is provided by Saleyards Road, with further access to the rear of the site available from Huia Road. The Property has a substantial concrete sealed yard space, allowing for carparking, vehicle manoeuvrability and yard storage. A feature of the Property is the low site coverage of 35% providing for significant future development and value-add opportunities.
The structure of the two warehouses is a combination of concrete block, brick and long run metal cladding with reinforced concrete foundations and steel portal framing spanning across the building in a North to South direction. The steel portal legs are cast into concrete pilasters along the building and are supported by a prop post in the mid-span. The portal legs on each end of the front warehouse have steel corbel and gantry beams which are not currently in use.
The original warehouse provides access via a loading bay towards the road frontage and has a stud height of 4.8m at the portal knee, rising to 6.4m at the apex. There is also a 310sqm mezzanine located towards the centre of the warehouse. Access to the newer warehouse is gained via two roller doors accessible via the Huia Road right of way. The warehouse has a stud height of 5.5m at the portal knee, rising to XXm at the apex and also features a mezzanine floor office which provides for open plan accommodation and low-stud storage below.
The main offices and retail trade / showroom are located towards the road frontage within the Property with the general layout comprising of 2 large open plan areas. The original offices and showroom are lined with carpet flooring, painted plasterboard walls, suspended ceilings, recessed fluorescent lighting and ducted air-conditioning. The showroom can be considered as a partitioned warehouse with carpet flooring, plasterboard walls and an exposed gable roofing.
The roof of the rear warehouse consists of long run iron. The roof to the front (older) warehouse consists of ‘Super-6’ roofing. This type of roofing is common in older warehouses and has fallen out of favour due to its asbestos content. The Asbestos Management Plan for the property categorises the Super-6 roof as low risk, that is likely to only become an issue on re-development / demolition. Under the Deed of Lease, the Tenant has an absolute obligation to replace the Super-6 roof in year seven of the lease term at their cost.