Jasper acquires Auckland industrial asset and secures long-term lease with AA Insurance

Jasper is pleased to announce the acquisition of 482 Rosebank Road, a prominent industrial property on Rosebank Road, one of Auckland's prime industrial precincts. This strategic acquisition reflects Jasper’s ability to unlock value in tightly held markets and deliver strong long-term opportunities for our investors.

Jasper has partnered with Trilogy Funds to acquire the site. Trilogy is an Australian-based fund manager with over 25 years of experience in investment, finance, and development, and over 6,000 active retail and wholesale investors. New Zealand continues to be an attractive location for offshore capital with a well-recognised industrial market in Auckland that has demonstrated favourable fundamentals in the current environment.

Strategic Repositioning and Partnership with AA Insurance

Purchased vacant following the conclusion of a long-term tenancy, the 6,253 sqm property presented a unique opportunity for repositioning. Jasper collaborated closely with AA Insurance to reimagine and repurpose the space. This partnership has resulted in AA Insurance signing a long-term lease and committing investment in the facility.

Simon Hobbs, Chief Operating Officer of AA Insurance, says:

“To stay ahead in the motor repair industry, we must anticipate market trends and adapt to the evolving needs of our customers. Through innovation and collaboration - both within our nationwide Quality Repair Network (QRN) and through our strategic partnerships with Drive Group New Zealand and Jasper - we’re investing to future-proof our repairer network and set new standards in customer service excellence."

Development of a State-of-the-Art Collision Repair Centre

The property is undergoing significant upgrades as it transitions to a state-of-the-art assessment and collision repair centre. Enhancements include the addition of a new two-level ~400 sqm office alongside comprehensive site improvements. Repair services will be provided by Drive Group New Zealand, aligning with AA Insurance’s strategy to reduce cycle times, expand repair capacity to meet growing demand, and create a seamless customer experience.

Addressing the Demand in Avondale's Industrial Market

Avondale's industrial market is characterised by limited land supply and historically low vacancy rates, making high-quality industrial space such as this highly sought after. This acquisition, and subsequent lease to AA Insurance, not only highlights the strong demand in the area, but also contributes to the enhancement of Auckland's industrial infrastructure.

Mark Campbell, CEO of Jasper, commented:

"We view the current stage in the cycle as an opportune time to deploy capital into selective industrial opportunities. We are proud to have acquired this asset alongside both Trilogy and our private investors in an exciting new partnership with AA Insurance, that will transform the site into a leading-edge facility.

This acquisition demonstrates Jasper's strategic approach to property investment - identifying opportunities with addressable complexity alongside strong fundamentals, fostering partnerships with market-leading tenants, and delivering value to our investors through proactive development and asset management."​

Henry Elgood, Executive Director for Trilogy, noted:

“This acquisition is a milestone for Trilogy as our first industrial asset in New Zealand. Partnering with Jasper allows us to provide our wholesale investors with access to a new jurisdiction and deliver a standout facility that meets the growing demands of Auckland’s industrial market. We’re excited by the prospects of this partnership."

You can view a visual update of progress at the site here.

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 $355M and manages an annual rent roll of more than $19M. Jasper currently manages funds holding 16 industrial assets in and around the Auckland region.

About Trilogy

Trilogy is an Australian fund manager and financier of property-based investments with over 25 years of experience in investment, finance and development with over 6,000 active retail and wholesale investors. Trilogy has funded over AUD$3.2B worth of projects over the last 5 years and manages an industrial property fund that actively oversees 15 properties with a gross asset value of AUD$300M. ​