PUHINUI ROAD 286 PAPATOETOE, AUCKLAND - FOR SALE BY TENDER - Alexander Harper
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286
PUHINUI ROAD
PA PATO E TO E , AU C K L A N D
F O R SA L E BY T E N D E R
C O L L I E R S I N T E R N AT I O N A L
CONTENTS INTRODUCTION
Colliers has been exclusively appointed to market 286 Puhinui Road, Papatoetoe for sale by
Tender on behalf of the vendors.
Tenders are to be lodged in the form provided within the online data room at the offices
of Level 1, Colliers House, 52 Highbrook Drive, East Tamaki, Auckland, or, Level 1, 129
Hurstmere Road, Takapuna, Auckland by 4pm Wednesday 19th September 2018 (unless
sold prior).
286 Puhinui Road is a 2,198m² site across two titles. Currently leased to Mobil New
Zealand Limited with the current lease expiring on 31st December 2019, followed by a
right to renew the lease for a further 5 years.
Please review the enclosed information memorandum and direct any further enquiries as
well as arrangements for inspections to the agents below:
2 Introduction 7 Location 14 Zoning Matthew Barnes Shoneet Chand Ash Vincent
4 Executive Summary 9 Key Commercial Suburbs 15 Auckland’s Acceleration Director | Investment Sales Director | Investment Sales Broker | Industrial Sales
+64 21 828 563 +64 21 400 765 +64 21 442 201
6 Investment Highlights 11 Property Description 16 Sale Process matthew.barnes@colliers.com shoneet.chand@colliers.com ash.vincent@colliers.com
Level 1, Colliers House, 52 Highbrook Drive |
East Tamaki, Auckland City 2013 | 2
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C O L L I E R S I N T E R N AT I O N A L
New Zealand
EXECUTIVE SUMMARY
ADDRESS 286 Puhinui Road, Papatoetoe, Manukau
TENANCIES Mobil Oil New Zealand Limited
RENTAL INCOME $132,000 + GST pa
LEASE TERM Lease Expiry 31st December 2019, 1 x 5 Year Renewal
from 1st January 2020
SITE AREA 2,198m²
LEGAL DESCRIPTION LOT 4 and LOT 5 DP 50488
TENURE Fee Simple
ZONING Business - Neighbourhood Centre Zone
SALES PROCESS Tender closing 4pm Wednesday 19th September 2018
3 B O U N DA R Y L I N E S I N D I C AT I V E O N LY (unless sold prior) 4
C O L L I E R S I N T E R N AT I O N A L
INVESTMENT H IGH LIGH TS
2 ,1 9 8 M ² S I T E T E N A N T E D I N V EST M E N T R E T U R N I N G $ 1 3 2 ,0 0 0 + G ST
2,198m² corner freehold site across two titles Leased by Mobil New Zealand Limited with 16 Returning $132,000 + GST pa with Rent Review
months remaining on current lease term with dates on 1 January 2020 and 30 June 2022
further 1x5 Year Right of Renewal
H I G H P R O F I L E LO C AT I O N ZO N I N G F U T U R E D E V E LO P M E N T P OT E N T I A L
High profile corner site at the Western end of Business - Neighbourhood Centre Zone Neighbourhood Centre Zoning could allow for future
Puhinui Road residential development of the site
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C O L L I E R S I N T E R N AT I O N A L
L O C AT I O N
Based at the Western end of Puhinui Road, this Also in close proximity is Manukau CBD, which Residential growth is occurring through the South
corner site sits at the intersection of Puhinui offers a range of facilities, including Westfield Auckland region, with significant new development
and Noel Burnside Road. This area bounds both Shopping Centre, Event Cinemas, Rainbows End, taking place in Papatoetoe, Papakura and Takanini.
Papatoetoe and Manukau, as well as being in close Vodafone Events Centre, the Vector Whitewater Therefore 286 Puhinui Road is a prime position for
proximity to Wiri. Surrounding sites include a park plus Counties Manukau Super Clinic. With the potential future residential development with its
superette, residential housing and the northern edge Auckland Airport being a 10-minute drive away, the Unitary Plan Zoning of Business - Neighbourhood
of the Wiri Industrial hub. location is truly well connected. Centre Zone.
This fantastic location bounding Papatoetoe and Auckland is the country’s most populous and
Manukau grants minutes access to both main fastest growing region. The population, as at the
arterial routes and the airport. Manukau City Centre 2013 Census was 1.415 million, and is projected to
is approx. 3km East. Papatoetoe central is also in grow to 2.23 million by 2043. The region is also
very close proximity to the North East. nation’s commercial and business hub generating
approximately 35.5% of the national Gross Domestic
Papatoetoe has many community amenities, Product (GDP).
including the Manukau Memorial Gardens, Hunter’s
Plaza, Papatoetoe Centennial Pools and Leisure
Centre, and Middlemore Hospital.
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C O L L I E R S I N T E R N AT I O N A L
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5
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2
6 286 Puhinui Road
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KEY COMMERCIAL
1. Papatoetoe Central
SUBURBS 2. Manukau City Centre
3. Wiri
4. East Tamaki
5. Otahuhu
6. Auckland Airport
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C O L L I E R S I N T E R N AT I O N A L
PROPERTY DESCRIPTION
286 Puhinui Road is a large 2,198m² site across two Titles,
each Title made up of 842m² and 1,356m² respectively. This
creates a large, square shaped corner site, currently leased
to Mobil Oil New Zealand Limited on a 5 year lease term.
The building area is approximately 420m² with the shop and
fuel pumps covering a majority of Lot 5. Lot 4 is made up of
largely concrete turning space as well as car parking.
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C O L L I E R S I N T E R N AT I O N A L
ZONING - BUSINESS
NEIGHBOURHOOD CENTRE
The Business - Neighbourhood Centre Zone applies to single
corner stores or small shopping strips located in residential
neighbourhoods. They provide the community with frequent
retails and commercial service needs.
This zone allows for buildings of up to three storeys high and
residential use at upper floors is permitted. The development
within this zone is expected to be in keeping with the surround-
ing residential environment.
New development within the zone requires assessment in order
to ensure that it is designed to a high standard which enhances
the quality of streets within the area and public open spaces.
For more information please visit http://unitaryplan.aucklandcouncil.govt.nz
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C O L L I E R S I N T E R N AT I O N A L
AU C K L A N D ’ S
A CC E L E R AT I O N
AU C K L A N D I S N E W Z E A L A N D ’ S L A RG EST
A N D FA ST EST G R OW I N G C I T Y
• Auckland is New Zealand’s largest commercial centre and the main international gateway, through
which over 2 million international visitors arrive
• It provides 35% of New Zealand’s GDP and 61% of New Zealand’s imports arrive into Auckland
• 46% of the country’s employees in the finance sector work in Auckland
• Auckland’s population is growing at a faster rate than any other New Zealand Centre (2.5% p.a.
compared to a national 1.7% p.a.)
• 42% of permanent and long term arrivals settle in Auckland
• Auckland’s current population is estimated at 1.5 million, and is projected to increase by one million
by 2040. The predicted population growth will trigger demand for approximately 380,000 houses and
many new business premises
• By 2021, 27% of Auckland’s population is expected to be of Asian ethnicity
• Auckland’s fundamentals are underpinned by strong demographic trends
• Tourism activity in Auckland is expected to grow over the next five years
• Auckland Council has a vision to make Auckland the world’s most liveable city. An important element
of this is the redevelopment of Auckland’s waterfront and the fringe of the central business district.
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C O L L I E R S I N T E R N AT I O N A LSALE PROCESS
Matthew Barnes
Director | Investment Sales
Sale Process +64 21 828 563
286 Puhinui Road will be marketed for sale by Tender Tenders matthew.barnes@colliers.com
are to be lodged in the form provided within the online data room
at the offices of Level 1, Colliers House, 52 Highbrook Drive, East
Tamaki, Auckland, or, Level 1, 129 Hurstmere Road, Takapuna,
Auckland by 4pm Wednesday 19th September 2018 (unless sold
prior).
Due Diligence
To assist in the assessment of this offering, comprehensive due
diligence information is available via an online data room.
Shoneet Chand
Upon registration to the data room and agreeing to a Director | Investment Sales
confidentiality agreement we will provide you with a password +64 21 400 765
for access. shoneet.chand@colliers.com
Online Information
www.colliers.co.nz/209588
All enquiries, requests for information and arrangements
to undertake inspections in relation to this development
opportunity are to be directed to the sole agents, Colliers
International Limited:
Level 1, Colliers House, 52 Highbrook Drive | Ash Vincent
Broker | Industrial Sales
East Tamaki, Auckland City 2013 |
+64 21 442 201
New Zealand
ash.vincent@colliers.com
DISCLAIMER: This Information Memorandum has been prepared solely for information purposes in order to assist interested parties in making an initial evaluation of the property and does not constitute advice nor purport to contain all of
the information that a prospective purchaser may require. In all cases interested parties must conduct their own investigation and analysis of the property and the data set out in this Information Memorandum to satisfy themselves in all
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respects and not rely on the information in this Information Memorandum to make their purchasing decision. This Information Memorandum has been prepared in good faith and with due care by Colliers International, but neither Colliers
International nor the Vendor accept responsibility hereunder for the accuracy of any part of the information contained in this Information Memorandum. Therefore the recipient/s of this Information Memorandum to the extent that they rely
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on the information contained herein do so entirely at their own risk. The Vendor and Colliers International NZ Limited (and its brokers) expressly disclaim all liability for representations, express or implied, contained in, or for omissions from, this
Information Memorandum or any other written or oral communication given to any prospective purchaser in the course of their evaluation and/or offer. This Information Memorandum does not constitute an offer for sale or purchase or otherwise.286 PUHINUI ROAD PA PAT O E T O E I N F O R M AT I O N M E M O R A N D U M
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