Helensville industrial property gets competitive juices flowing

The Property
- Modern, functional 3,912sqm industrial building and a large sealed yard area used for vehicle parking
- 1.34ha of land
- New 6-year lease with 2x3-year rights of renewal in place to sole tenant JUCY, a leading multinational tourism business
- Built-in rental growth
- Located in the evolving and progressive Rodney District

Quick Look
- National Total Property marketing campaign with tender sale method
- Editorial coverage in the New Zealand Herald generated by the Bayleys’ PR team
- Strong enquiry levels from investors throughout New Zealand
- Multiple tenders received
- SOLD for $3,166,666 at a 9% yield
- Purchased by a local investor

The Story

Marketed by James Were and his colleagues James Hill and Travis Nicholls of Bayleys Auckland, this prime industrial property in a growth area north of Auckland proved to be a sought-after and high-yielding investment opportunity.

After a concentrated campaign, multiple tenders were received with a broad range of investors attracted to the offering.

“The new lease to a respected and well-entrenched multinational tenant drew motivated and astute investors out of the woodwork,” says James Were.

“JUCY fabricates its campervans here and has occupied the site since 2010 when the building was constructed with their specific needs in mind.

“That being said, this property is flexible and generic enough to have wide appeal and functionality in the future with subdivision into smaller units a possibility.”

The property has a main workshop area with a 7-9 metre stud, along with some additional lower-stud workshops which include partitioned store and workrooms, shower and bathroom facilities.

There are also two levels of office space including a boardroom, along with staff amenities.

“With industrial property in the Auckland market being in tight supply, assets in the north of the region are increasingly sought-after and this property is a good example of what discerning investors are on the hunt for,” says James.

Vendor Comment

Chief operating officer and co-founder of JUCY Group, Dan Alpe, says the sale and lease-back of the Helensville property will allow the company to pursue new initiatives…

JUCY by Design has been a key part of the Helensville community for the past 10 years and with 95% of their staff being locals, it’s a symbiotic partnership that epitomises the important role that a people-focused business plays in rural communities.

“When we first started building campervans in 1995, we used a third-party boat builder in Kumeu to build the vans for us, and when they out-grew their facilities, they developed the Helensville site with our requirements in mind,” explains Dan.

“When the owner of that business moved on, JUCY jumped at the opportunity to take over the lease and retain the existing staff.

“We subsequently purchased the factory in 2016 to secure the future for JUCY by Design and our decision to sell at the end of 2019 was simply to free-up capital for new initiatives.”

Dan says it was a decision not taken lightly given the loyalty of the staff and the relationship the company has with the local community.

“It was critical to us that a new owner could provide security in the form of a long lease and also that the new landlord was the right fit for our business.”

The marketing and sales’ process with the Bayleys team went smoothly for JUCY Group.

“The team was great to deal with and kept us well-informed during the tender process,” says Dan.

“We were happy with the ultimate outcome – we’d definitely recommend the team and use their services again in the future.”

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