The warehouse and production facility for sale in a fast-growing location near the boundary of Mount Wellington and Penrose is fully leased to The Cosmetic Company NZ.
With 25 years in business, the Kiwi-owned company produces tailor-made skincare, personal care, home and toiletry products for a wide range of clients in New Zealand and overseas.
Its team of cosmetic chemists leads the research and development of new products, and the business provides manufacturing and packaging solutions for both small firms and some of the country’s largest skincare and lifestyle brands.
The Cosmetic Company NZ pays net annual rent of $400,000 plus outgoings and GST, on a current lease that runs through to 2027 with a further six-year right of renewal. The lease comes with built-in market rent reviews every three years from commencement.
The freehold land and buildings at 74-76 Leonard Road, Mount Wellington, Auckland, are being marketed for sale through James Hill, Sunil Bhana and James Valintine of Bayleys South Auckland. The sale will be by deadline private treaty closing on Thursday 17 March, unless it is sold earlier.
Hill says the property for sale comprises an approximately 2,712-square metre building on some 2,595 square metres of freehold land.
The building incorporates some 960 square metres of warehouse space, along with a production area and office/amenities of approximately 600 square metres each.
“The remainder is made up of mezzanine and plant room/storage spaces, along with a 64-square metre canopy.
“The warehouse is readily accessed via two roller doors that open to the road front, with access to the production area via the warehouse.
“The office accommodation is split over two levels, with an open-plan central landing area and partitioned offices occupying the first floor. The ground floor houses a lunchroom and kitchenette plus amenities,” says Hill.
Bhana says the Leonard Road offering is underpinned by the quality of the longstanding, established tenant, which has invested significantly in the building fitout and infrastructure, and offers the security of a bank bond.
The site sits within the Business – Light Industry zone under the Auckland Unitary Plan, with permitted activities ranging from manufacturing and storage to logistics, transport and distribution.
“The popularity and convenience of this centrally located industrial precinct can be seen in the stature of business occupiers in the surrounding area, such as Sky New Zealand, Fulton Hogan, NZME Print and Countdown’s Mount Wellington e-Store,” says Bhana.
Valintine says the Leonard Road site benefits greatly from its proximity to Auckland’s CBD, about a 12-kilometre drive away, and Auckland Airport, some 15 kilometres away.
Access to the motorway network is just five minutes away via the Ellerslie-Panmure interchange.
“The surrounding area is set to grow further with Auckland Council having identified Mount Wellington for more intensive residential development and major redevelopment is planned nearby,” says Valintine.