A high quality, near-new warehouse property that ticks all the boxes is for sale in the industrial mecca of Wiri, providing a true trophy investment.
The 2,600sq m property at 2 Wilco Place is ideally located on a corner, gateway site close to the entrance of a modern business park.
The property is being marketed by Paul Steele and Vinay Patel of CBRE and is due to be sold by deadline private treaty on Wednesday 21st November, if not sold prior.
Steele says there’s a lot to get excited about with the property and it is sure to attract strong interest from investors and occupiers.
“2 Wilco Place has to be up there with the crème de la crème of warehouse properties. With two street frontages, great profile on a corner location, highly functional drive through yard and a premium office fit out, it is a true trophy asset that will stand the test of time and keep on delivering for decades to come.”
Located in the heart of Wiri, the property enjoys easy access to motorways and routes north and south via SH20 which is less than 2km away. The site is also surrounded by similar quality buildings with neighbouring tenants including Plumbing World, Tyremax, Superfreight and Cargoplus, with all these businesses choosing this location due to its easy of motorway access.
While having a street address of 2 Wilco Place, the predominant frontage and lengthways access is on McLaughlins Road.
The site offers a total net lettable area of 2,600sq m including a 1,800sq m warehouse and a large 400sq m canopy, and was developed in 2012 for current owners with a bespoke design and built to high specifications.
“With two street frontages, three separate road crossings, outside storage capacity and a large drive through concrete yard area, everything about the property is geared towards ensuring highly efficient de-vanning and freight operations.”
“The footprint of the warehouse ensures it is in a very leasable category and its high stud height of 9.3 metres rising to over 10m. This, combined with the absence of columns in the building, make it a highly desirable space capable of storing pallets up to 5 levels high. Flexibility is also catered for with doors on two elevations.”
In addition to the operations part of the site, Steele says the property also offers 18 car parks and an equally impressive modern 400sq m office space which would be at home in any corporate setting in the CBD.
“These are high grade offices constructed with Alluca bond office components, 2.7-metre-high ceiling studs and full height tinted glazing. As an architecturally designed space protruding from the main corner of site, it is highly functional with a direct overview of the operational and yard area.”
The warehouse is constructed of full height tilt slab concrete panels up to the roofline and provides a high-end construction method that will stand the test of time. The property is rounded off with black powder coated palisade fencing and is fully hedged with low maintenance landscaping further adding to the property’s street profile and appeal.
Zoned for Light Industry, Vinay Patel says 2 Wilco Place would suit a range of warehouse related / cargo / freight businesses, looking to benefit from the extremely close proximity to motorway networks north and south, SH1 and SH20.
With the current tenant, Cirtex moving to bigger premises in the area, Patel says the property is expected to be available for future tenants from late 2019.
“This is a rare opportunity for occupiers to have property available to occupy in less than 12 months from settlement, with the added certainty assisting with future property planning needs. This is something owner occupiers have been hard-pressed to find in the market and this opportunity should provide relief to pent-up demand from owner occupiers seeking high quality premises to ow and occupy.
Patel says the 12-month lead time to find a tenant will be a strong position for investors too, particularly given the leasing popularity of other properties in the area to date.
“Already this year we’ve seen another building on the street attracting a new tenant four months before completion of construction, highlighting the exceptionally strong leasing demand in what is Wiri’s most modern industrial business park.”
Steele says the observation is also reflective of a wider trend in the market.
“There’s no doubt there’s a real flight to quality and efficiency in the industrial property market currently and high-quality modern buildings are in high demand and attract plenty of attention from tenants looking to upgrade the cubic capacity of the warehouse and improve their environment surroundings. The fact there has been no sales for properties like 2 Wilco Place recently, shows just how hard it is to find fit-for-purpose properties like this. Combine that with the certainty in an upcoming vacancy date, this high stud warehouse property at 2 Wilco Place is sure to be a highly sought-after opportunity that is rare to find, and even harder to secure.”
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com..