Heightened investor interest in regional industrial property offerings is putting the spotlight on well-located tenanted investment opportunities outside of the major centres, with Whangārei poised to leverage this demand.

A centrally located light industrial investment property with strong exposure to State Highway 1 within Whangārei’s primary Raumanga precinct has come to the market for sale, with a lease in place to a successful local business, and inherent flexibility for a new owner.

The 1,083sqm building at 13 Nell Place, Raumanga sits on a freehold 2,203sqm site at the end of the cul-de-sac within the industrial precinct which is home to a range of local and national occupiers.

It is fully leased to national marquee manufacturer and supplier Shedline Whangārei on a new three-year term with a one-year right of renewal, returning annual net income of $207,000 plus GST and outgoings. Shedline is well-established on the site, but is in the process of building new premises elsewhere in the district and is open to a shorter lease term if that would mesh with a new owner’s requirements.

The adaptable property comprises a well-proportioned 775sqm high stud warehouse, 70sqm ground floor showroom to the front of the property, a generous staff lunchroom and amenities, plus 163sqm of upstairs office space. The 1,023sqm paved yard provides 15 car parks.

The property is for sale through Henry Napier and Nigel Ingham of Bayleys Whangārei, with the deadline private treaty process closing 13th August, unless sold prior.

Napier explains that the property will appeal to both investors and owner-occupiers given the new three-year lease and the flexibility of the current tenant who would be happy to negotiate an earlier exit from the site if needed.

“An investor can take confidence in the tenant demand we’re seeing for quality warehousing with the subject property’s clear span warehouse space ideally suited to storage, manufacturing, processing or logistics, while also appreciating the locational benefits that would support redevelopment in the future.

“The tenant’s openness to discussing lease terms also means an owner-occupier could look to transition to the site themselves, opting to take holding income from a short-term lease which would support near-term occupation.”

Ongoing work on the Northland Expressway under the government’s Roads of National Significance project underpins growth in Whangārei by encouraging investment, attracting population, and streamlining connectivity from Auckland.

“Council figures show the Whangārei District's population is set to grow to 142,000 by 2054, an increase of around 40,000 people over the next 30 years as it becomes an increasingly popular location to live, work and invest,” says Ingham.

“This growth supports demand for well-located industrial property, and the Nell Place site is well-placed to capitalise on this. The Raumanga light industrial precinct is just four kilometres from the centre of Whangārei, with the rear boundary positioned on State Highway 1 providing unmatched exposure to passing traffic and allowing efficient freight and logistics access north and south including to the airport and Northport.”