Silverdale redevelopment opportunity with huge highway exposure

A substantial industrial landholding in Silverdale with huge exposure to the Hibiscus Coast Highway is for sale, presenting an opportunity to invest or redevelop in one of Auckland’s fastest-growing locations.

The property at 6 Titan Place and 44 Flexman Place comprises two proposed subdivision lots with a total area of 11,116sq m.

The lots are offered for sale with vacant possession, either together or separately, with the potential to attract new tenants to generate significant holding income.

Colliers International is marketing the property by way of deadline private treaty closing at 2pm on Thursday 24 October, unless one or both lots are sold earlier.

Director Shoneet Chand says it is a chance to acquire a significant industrial landholding in a high-growth area.

“This superbly positioned property offers massive exposure, excellent redevelopment potential and flexible options, making it an astute buy for investors, developers and owner-occupiers.

“It comprises a number of older warehouse buildings, a small office and extensive concrete yards on a freehold site with Business Light Industry zoning.

“The property is offered for sale with vacant possession, which is a rarity in this market – especially in one of the fastest-growing areas of Auckland.

“This gives a new owner the flexibility to either lease out the current improvements or redevelop part or all of the site – an attractive option, given the site’s zoning and high-profile location.

“A rental analysis shows the property could generate some $285,760 in annual holding income if fully tenanted at current market rates. This rental rate is on par with that in the popular North Shore industrial location of Albany.”

Colliers Industrial Broker Ryan de Zwart says the property is well positioned alongside the Hibiscus Coast Highway, near the popular Silverdale Centre retail development.

“The Hibiscus Coast Highway is the main arterial between State Highway 1 and the popular residential areas of Orewa and the Whangaparaoa Peninsula.

“This gives the site huge visibility to more than 30,000 passing cars every day, presenting excellent opportunities for signage.

“The property also offers excellent proximity to all of the area’s retail, residential and industrial hubs.

“Silverdale town centre is only a few hundred metres to the west, while the newly opened Silverdale Mall is located to the north.

“Also nearby are the Highgate Business Park, which is in the early stages of development, and the growing residential suburb of Millwater.”

The property comprises Lots 1 and 3 of a proposed subdivision located between Titan Place and Flexman Place, which are both short cul-de-sacs within the Silverdale industrial precinct.

Colliers Industrial Director Matt Prentice says both lots enjoy exclusive access from either road via a private right of way with barrier arm control, enabling better entry and exit options for only the two lots.

“Titan Place is located off the Hibiscus Coast Highway near the crest of Silverdale Hill, to the northeast of the subdivision.

“The road has a mix of industrial occupiers including a large concrete batching and precast panel plant, several modern light industrial buildings, car and boat sales yards, a landscaping yard and vacant land.

“Flexman Place runs parallel to the Hibiscus Coast Highway on the other side of a small council berm, providing excellent exposure to traffic.

“It is directly off Tavern Road, which is one of the main routes into the Silverdale industrial estate – the principle industrial precinct for the Hibiscus Coast area.”

Proposed Lot 1, located at 6 Titan Place, is a rectangular shaped 5,726sq m site. Improvements comprise an older workshop, warehouse, office and substantial concrete sealed yard.

The property has the potential to generate $190,960 in annual rent at current market rates, comprising $122,320 from the yard and $68,640 from the warehouse and office.

The workshop provides 161.5sq m of functional space including a small office and amenity area. Access is via three roller doors.

The larger warehouse provides 344.3sq m of functional space along with toilet, shower and lunchroom amenities. Access is

via two roller doors at the front and one at the rear.

A 63sq m office building includes a large open plan office area to the rear.

Proposed Lot 3, located at 44 Flexman Place, is a 5,390sq m site. It comprises a slightly irregular shaped lot with significant frontage to Hibiscus Coast Highway, along with a 220sq m warehouse.

The property has the potential to generate $94,800 in annual rent at current market rates, comprising $75,000 from the yard and $19,800 from the warehouse and office.

The site also contains a proposed billboard lease area that could return additional annual rent.

Jimmy O’Brien, Director and Manager of Colliers North Shore, says Silverdale is serviced by excellent amenity.

“The growth of the Silverdale and Millwater residential areas has led to the development of schools, medical centres and recreational facilities.

“These will help to service the estimated 140,000 people expected to move into the former Rodney area by 2031 – a growth rate faster than the adjacent North Shore and the overall Auckland region.

“Silverdale is also serviced by a range of established and newer retailers including Farmers, Pak’n Save, Bunnings, The Warehouse, Countdown, Noel Leeming, Supercheap Auto and ANZ.”

O’Brien says Silverdale also offers good transport links.

“Considerable government expenditure on roading and infrastructure has effectively brought the Hibiscus Coast to within a

30-minute drive of the Auckland CBD.

“Regular bus services through Silverdale connect Whangaparaoa and Orewa with the Hibiscus Coast bus station, which provides a public transport link to and from Auckland’s CBD.”