Rare investment in booming Westgate

A duo of units housing a top auto glass repairer and a well-known local cycle shop are up for sale in a new business park in the heart of Auckland’s thriving Westgate.

The modern premises form part of a new premium gated development of 16 warehouse/business units on Northside Drive. The business park sits prominently in a booming Westgate hub which is home to the likes of Costco, Mitre 10 Mega, McDonald’s and Bunnings.

Unit 6 is leased to Smith & Smith Auto Glass, a heavyweight in New Zealand vehicle glass repair and replacement which serves motorists from 60 locations nationwide. The current lease runs to 2028, with two further three-year rights of renewal. It generates an annual net rental return of $93,000 plus outgoings and GST.

Unit 7 is occupied under a new four-year lease by Mission Cycles, a business that has operated in West Auckland for over 20 years. A further four-year right of renewal is available which, if exercised, will run through to 2033. This unit returns a net rental of $85,493 plus outgoings and GST per annum.

Each unit spans some 300 square metres and comes with six allocated parking spaces in a central car park. The lease agreements lock in three percent annual rent increases with a market review upon lease renewal.

Units 6 and 7, 14 Northside Drive, Westgate, Auckland, are now being offered for sale through Bayleys Northwest. They will be sold, separately or together, by deadline private treaty closing on Wednesday 22nd October, unless sold prior.

Bayleys salesperson Stuart Bode said Business - Light Industry zoning under Auckland’s unitary plan permitted uses ranging from manufacturing and production to logistics, storage, transport and distribution.

“Industrial development land is virtually exhausted in the Westgate area. The impending sale of two units in this new business park is a rare chance to buy brand-new, quality investments with high-calibre tenants - in an affordable price bracket that’s accessible to smaller investors,” Bode said.

Each unit features a high seven-metre stud clear-span warehouse with a canopy and motorised roller door. They are constructed with concrete tilt-slab walls and full-height glass panelling and have a seismic structural rating of 100 percent of the new building standard.

In addition to the allocated parking in front, both units have secure and dedicated loading positions and truck access. The wider business park is well-presented with attractive landscaping.

It sits in a high-profile location across the road from Mitre 10 Mega and a short distance from the 100-plus shops of the NorthWest Shopping Centre.

Bayleys salesperson Mark Preston said this location was hard to match as an opportunity for smaller investors.

“Already home to the world’s second-largest retailer, Costco, plus New Zealand’s biggest Mitre 10 and Bunnings stores - soon to be joined by the leading Kmart -Westgate’s town centre is truly booming as a commercial hub of national significance.

“With global giants such as Microsoft and Amazon also investing in the area, its status as a place to be is almost unrivalled - making the units for sale an exceptional opportunity to gain a foothold here.

“The wider NorthWest corridor is one of Auckland’s strongest growth areas. It is undergoing a $15 billion transformation with new public amenities, schools, a major transport upgrade and massive development and expansion in the Westgate town centre and residential areas along Fred Taylor Drive and Redhills in Massey,” Preston said.

Handy motorway links to the North Shore, city centre and Auckland Airport would gain a further boost from a proposed Northwest Motorway connection from Northside Drive, a few hundred metres from the units for sale, he said.