Strong Parts Portfolio, Auckland
Well located heavy industrial portfolio underpinned by high land value
The Strong Parts Portfolio, part of the Centuria NZ Industrial Fund, comprises six freehold industrial properties all located in Auckland. The assets are utilised as car parts and dismantling sites and are all leased to Strong Parts Group Ltd, a recently formed company that purchased the Strong Parts business. The business was established in the 1970’s and specialises in the new and used car parts industry. Four of the properties are in one of Auckland’s most established industrial area, Onehunga. Two are in the sought-after Wiri industrial precinct, South Auckland. Two are located in Glendene, West Auckland, an emerging industrial location.
Whilst there are six individual properties, several sites are neighbouring so they effectively present as four larger consolidated sites. While some of the buildings on the sites are of modest condition, the properties are underpinned by high land value in areas currently experiencing very low vacancy. In addition, some of the sites are underutilised which may present opportunities for re-development in the future.
The above stats are as at 31 March 2023