Four industrial properties in south Auckland are for sale, offering investors the chance to secure an asset class that forecasters believe will remain strong post-Covid-19.
The properties, three in Otahuhu and the another in neighbouring East Tamaki, are being marketed by Barfoot and Thompson and sit in Auckland's in-demand industrial belt.
Situated in a key strategic location in East Tamaki, is a two-level road front industrial property built circa 2003 and currently occupied by Steelcraft Engineering Limited.
“This property is superbly located and benefits from the increasing popularity and accessibility of East Tamaki,” says agent John Bolton, who along with Simon Farland, is marketing 31 Stonedon Drive, East Tamaki, for sale by deadline private treaty closing at 4pm on June 11.
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“The property benefits from being relatively close to the southern motorway interchange at Highbrook Drive,” Bolton says. “It is nearby to Te Irirangi Drive, which is the main link to Manukau, Pakuranga, Botany and Papatoetoe, providing an already stable labour force.”
“The precinct has developed from Greenfield origins and the availability and relative cost of land has made the precinct attractive to businesses,” Farland adds.
As such, the area has a number of nationally and internationally significant companies, some of which are involved in developing innovative technologies.
“In recent years, East Tamaki has seen significant investment in development and infrastructure to cater for an ever growing demand from businesses to have a presence in this location,” Bolton says.
“The fact that East Tamaki is seeing such growth and a property of this nature is rarely on the market, the flexibility it offers to the investor, developer or owner occupier is enormous.”
Bolton says the building will be available for occupation with the vendor flexible over dates with a short-term lease a possibility. The property, which is zoned Business - Light Industrial, has a total building area of 1,295sq m sitting on a 2,000sq m site.
Farland says the building comprises office, warehouse and mezzanine space with construction being concrete footing foundations, concrete slab ground floor; a mix of aluminium and fibreboard or similar cladding for the office component with extensive glazing. The warehouse comprises a full height, tilt slab with concrete walls to the boundaries and long run steel above. Roofing is long run steel and multiple lines of translucent panels.
9 Albion Road, Otahuhu, is located close to SH1 on- and off-ramps. Photo / Supplied
On the western side of south Auckland, is a freehold industrial property for sale a short distance from Otahuhu’s commercial centre at 9 Albion Road, Otahuhu. The property is being marketed by Nick Wilson and Ben Johnson and is for sale by way of deadline private treaty (mortgagee sale) closing at 2pm on June 3.
The property is surrounded by developments of similar age and style.
The site benefits from being located close to the SH1 on and off ramps and is in an absolute prime position in terms of fringe city industrial property. “The site is ideal as it is located right between Auckland CBD and the Auckland International Airport” says Wilson “Both state highways 1 and 20 are within minutes of the property and the Onehunga industrial belt provides neighbouring business activity of similar nature.”
The improvements consist of a two storey building constructed in the 1970s, comprising a warehouse, office and storage facility. The structure and external walls are brick and it has a pressed steel roof. “The building has a floor area of approximately 1,036sqm and sits on 814sqm of land just one block over from Great South Road” says Johnson.
The 288.8m² front ground floor work shop, 284.8sq m rear ground floor workshop and 281.3sq m upper floor office are all currently tenanted and returning a total of $81,500 + GST per annum. The upper storage of 181sq m is currently vacant.
“The property is located in the Business - Mixed Use Zone, providing for residential activity as well as smaller scale commercial activity,” says Johnson. “A height variation control of 21 metres is in place for this part of Otahuhu.”
172 Great South Road, Otahuhu, above, and nrighbouring 174 Great South Road are both zoned Business – Mixed Use. Photos / Supplied
Bordering this property, is 172 and 174 Great South Road, which are being marketed by Wilson and Johnson and are for sale by deadline private treaty (mortgagee) closing at 2pm on June 3.
Both properties are zoned Business – Mixed Use and Johnson says: “These types of investments with further development within Otahuhu will increase catchments and provide future opportunity for well positioned properties.”
“The properties are both freehold and sit on two separate titles” say Wilson, “172 Great South Road is currently vacant while 174 Great South Road, is tenanted and returning $88,400 plus GST per annum."
172 Great South Road has a site area of 794sq m and houses an office building of 47.5sq m with the rest of the site being largely sealed. 174 Great South Road is 1,568sq m and existing improvements at the property are a 66sq m office constructed in the 1980s with a 36sq m canopy at the rear of the office building. The balance of this site is also sealed.
Combined, the properties have a road frontage of 39 metres on to Great South Road. The property benefits from being on this main arterial route as it connects Mt Wellington/Penrose through to the commercial centre of Otahuhu. Surrounding development to the north is established industrial businesses with a number of car yards interspersed along Great South Road.
