An East Tamaki industrial facility on a half-hectare site with rare usage consents for pharmaceutical, laboratory or manufacturing occupiers is for sale or lease with vacant possession, presenting a compelling opportunity in the constrained Auckland industrial property market.
The 4749sq m veterinary products manufacturing facility at 14 Blackburn Road is occupied by a global leader in animal health remedies, Boehringer Ingelheim Animal Health, who will vacate the site late this year.
This specialist high-quality facility has unique manufacturing consents that have a high replacement threshold in the New Zealand marketplace.
With the demand for biotechnology, pharmaceutical and medical-related services escalating in this pandemic world, the property – which has a global pedigree for the manufacture of pharmaceutical-grade products – could streamline a market foothold for both established and emerging businesses.
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Property in the East Tamaki industrial precinct is tightly-held and there is minimal vacancy in this premium location, hence the 5,444sqm landholding represents strategic value in itself.
Existing buildings comprise a high stud mostly-racked warehouse with separate Quality Assurance/Quality Control and research laboratories on the first and second floors serviced by two elevators, extract-controlled batching rooms within the dispensing lobby and manufacturing area, offices, weather-protected canopied space, 50 car parks, and sealed yard.
While the property was purpose-built for the existing manufacturer, agents advise the property would transition well to the requirements of other similar businesses, or could be readily reconfigured for broader industrial use.
James Hill, Nelson Raines and Sunil Bhana, Bayleys South Auckland, are marketing the industrial offering by deadline private treaty closing 4pm, Thursday 17 March and said the vendor would consider lease, sale or partnership arrangements.
“This property has been designed, constructed and maintained to stringent multi-agency international export standards and comes with several layers of possibility for a new owner or occupier,” said Hill.
“As the current tenant will be vacating the site around 12 months earlier than their existing lease expiry, a new tenant could take an assignment of lease, or negotiate a new lease with any building alterations included in those discussions.
“Equally, the property could be purchased outright with the benefit of the existing lease running through to late-2023 giving a new owner-occupier the breathing space to stage a business relocation or providing some holding income for an investor.
“Another option would be to come to a partnership arrangement with the vendor and Bayleys agents can step interested parties through the potential scenarios.”
Hill said the efficiencies inherent with this property cannot be underestimated.
“Two years of planning, design and consenting went into this facility when it was established, followed by 10 months’ construction and significant background work to secure usage consents and licences.
“Frankly, this would be extremely hard to replicate at the best of times – let alone in the current Covid-impacted environment.
“Given the construction sector and supply chain challenges, shortage of suitably-zoned industrial land and mounting build costs, the opportunity to acquire a high quality, ready-to-go facility in one of Auckland’s pre-eminent business precincts is very rare.”
Zoned Business-Heavy Industry, the large site is on the western side of Blackburn Road, and benefits from a one-way truck loop via a shared exit right of way to Crooks Road.
Blackburn Road itself is a short link road between Crooks Road and Kerwyn Avenue close to State Highway 1 via Highbrook Drive and with the flagship Highbrook Business Park to the west.
- Article supplied by Bayleys
