The opportunity exists for wholesale investors to express interest in purchasing units in the DABS 156 Central Park LP .

The property is located in the popular light industrial/commercial area in the heart of the Henderson/Lincoln Rd Business District. The building occupies a site of 11,083 sqm on the western side of Central Park Drive at its junction with Soljan Drive and within 1km of the Lincoln Road interchange of the North-Western Motorway. The Trust Arena and Central Park are to the south. The surrounding area is predominantly low-rise office and showroom/warehouse buildings with convenience retail uses. 

The property comprises two 2-level automotive showroom/workshops together with an asphalt sealed display yard. There are 3 tenancies and in total the buildings provide approximately 2,829 sqm of net lettable area together with 3,366 sqm of asphalt yard. 

• Site 1 has the corner position and is leased to Auckland Vehicles, with two yearly CPI rent reviews. The building was completed in 2016 and provides high stud showroom and workshop totaling 1,379 sqm and 104 vehicle parks.
• Site 2 is leased to Tristram European with a right of renewal, with annual CPI rent reviews. The building was completed in 2019 and provides high stud showroom and workshop totaling 1,451 sqm and 59 vehicle parks.
• Site 3 is leased to Winger Motors Ltd as a yard for car storage with a right of renewal, with annual CPI rent reviews. There is a redevelopment clause upon 3 months notice should the landlord wish to redevelop the site. There is also an option for the tenant to develop the site themselves.  

DABS Consulting Limited is offering 500,000 units for sale to replace existing investor capital. This represents 4.69% of the equity invested in the Limited Partnership. The parcel is offered for $500,000.

The Property:

156 Central Park Drive, Henderson

• 11,083 sqm freehold site 
• Showroom, workshop and office accommodation
• Excellent surface car parking provision
• 100% tenanted – 3 tenants. Auckland Vehicles Ltd, Tristram European Ltd, Winger Motors Ltd

Property Zone

Under the Operative Part Auckland Unitary Plan the property forms part of the Light Industry Zone. This includes industrial activities that do not generate odour, dust of noise. This includes manufacturing, production, logistics, storage, transport and distribution activities.

Strengths 

• High profile corner location with frontage onto Central Park Drive, Henderson
• Modern/refurbished, well presented buildings
• Good on-site car parking provision 
• Strong tenant covenants with rental growth incorporated into leases

Distribution History:

October 2020 - September 2022: 6.75% Monthly return; $33,750 Annual Return Pre-tax

October 2022 - January 2023: 6.00% Monthly return; $30,000 Annual Return Pre-tax

February 2023 - current: 4.5% Monthly return; $22,500 Annual Return Pre-tax

Following increases in the OCR this has impacted the cashflow for the Limited Partnership. As a result, the monthly distribution has reduced from 6.75% to 4.5%. The monthly distribution is not certain and cannot be guaranteed.

For further information please see the investor's information pack and updated tenancy information in the documents tab, or click the "Register Interest" button to be put in contact with the Manager.