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Jasper agrees long-term lease with Washtech at Rosebank asset

Jasper, the specialist commercial real estate investment and asset manager, has successfully negotiated and executed a new nine-year lease to Washtech across a 6,120 sqm facility at 560 Rosebank Road in Auckland.  The site boasts 4,400 sqm of high-stud Warehouse space which Washtech will use for manufacturing. Established in 1981, Washtech is New Zealand's largest commercial dishwashing equipment manufacturer.

The Heavy Industry Zoned site is strategically located within the major Industrial precinct of Rosebank and offers ready access to major transport routes, providing Washtech with access to a central node within Auckland’s logistics network. This asset sits within Jasper’s value-add logistics and industrial portfolio.

Jasper worked closely with the existing tenant (Steel & Tube) and Washtech to navigate operational complexities and ensure that each tenant's unique requirements were met as the site was reconfigured and the leases negotiated. Steel & Tube will remain on site as a significant sublease tenant, retaining their well-performing trade shop and warehouse.

Matt Bos, from Jasper’s Investment Management team, commented, “It was great to achieve a result that met the needs of all parties involved, while also delivering value for our investors. The long-term nature of the lease allows Washtech to execute its strategic growth plans at the site with confidence. The Rosebank location was key for Washtech, with its wider operations having been located in the precinct for some time. Jasper is excited to have the opportunity to build a long-term partnership with a leading local manufacturer.”

About Jasper: Jasper is a specialist commercial real estate investment and asset manager, representing global institutions and investors throughout New Zealand and Australia. Jasper provides investors access to real estate strategies across Australasia. Since 2019, Jasper has grown its AUM to over $340M and manages an annual rent roll of over $13M.

Matt Bos - Jasper

Matt Bos

Senior Investment Analyst

Posted on 1 Sep 2023

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Important Disclosures

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