Investors offered chance to print their mark in Henderson

30 April 2019

A modern warehouse and office property in West Auckland occupied by a national name in the printing sector has been placed on the market, providing a quality investment in a sought-after sector.

8-14 Collard Place, Henderson, is being marketed by Paddy Callesen of Savills Industrial and is for sale by deadline private treaty closing on Friday May 10 at 4pm.

The building is still leased by its original tenant – national print communications company Blue Star Group – and owned by the same initial purchaser who acquired it when it was built in 1996, Callesen says.

“This property has been occupied over the long term by Nicholson Print Solutions, a business unit of Blue Star Group. It is now being sold by its original owner, an overseas-based investment group which is divesting the last of its New Zealand assets.”

Blue Star Group is the largest print provider in New Zealand, with 11 sites and 12 different brands, says Callesen.

“Blue Star is a longstanding Kiwi success story, operating as a group of independent businesses. The strong tenant covenant this company provides, and the commitment it has made to its Collard Place facility, makes for a very high-calibre investment.”

Nicholson Print Solutions was originally established as a family owned enterprise before joining the Blue Star group. It has a team of around 90 people and operates a state of the art offset print plant at Collard Place, including a fleet of Heidelberg sheet-fed presses and a latest-generation digital print facility, Callesen says.

“Nicholson’s Collard Place facility is highly impressive, with the company having invested in four top-of-the-line sheetfed printing presses, image control, digital printing capacity and a full in-house bindery.”

Blue Star Group has recently signed a new lease to the property, taking the current term through to early 2024. The current annual net rental of $422,029 also offers the new owner income growth, with rent reviews every three years equating to the greater of either current market levels or the compounded consumer price index.

The building, constructed in 1996, contains a large warehouse and two levels of offices spread across 2,787sq m of gross floor area. The facility is fully air conditioned, with refurbished office space providing very high quality open-plan work and meeting areas, along with a staff café and courtyard.

The clear-span warehouse/production area is also presented to a very high standard, with a single-pitch roof ranging from six metres to eight metres in height and suspended ceilings. Roller doors provide access to a yard area and 51 on-site car parks.

“This facility is modern, well maintained and presents as a highly impressive printing facility in which Blue Star has invested heavily. It’s the sort of industrial building any investor would be proud to own,” says Callesen.

The property is located in the Henderson commercial and industrial precinct, which is sought-after among tenants and investors owing to its high quality building stock and proximity to the Auckland central business district.

The 4,110sq m light industry-zoned freehold site is at the southern end of Collard Place, a cul de sac off Central Park Drive which in turn links directly to Lincoln Rd just off the North Western Motorway.

“This property is in the heart of the Henderson commercial area, which has become a highly regarded business precinct in recent years due to the rapid pace of population growth in West Auckland,” Callesen says.

“The Lincoln Road and wider Henderson business area is now very much a mixed use commercial location, with a range of occupiers operating in medium scale manufacturing, warehousing, bulk retail and showroom properties.”

The recent growth of the Henderson commercial precinct now means the area has become an attractive place for staff to work, with a wide range of retail and services including cafés, gyms and supermarkets in the immediate surroundings.

Businesses in the area also benefit from greatly-improved regional transport connections, with the Waterview Connection opening up access to South Auckland bypassing the central business district, says Callesen.

“Companies operating in Henderson now have seamless motorway transit links west, north and south, which has put this area firmly on the map as a highly desirable base for a great variety of commercial and industrial occupiers.”

 
 

Key Contacts

Paddy Callesen

Paddy Callesen

Head of Industrial Sales and Leasing
Commercial Sales

Savills Auckland

+64 (0) 9 951 5911