The opportunity to purchase a tightly held industrial premises in the gentrifying suburb of Mt Roskill will appeal to a range of buyers given the strong development potential of the site.
The freehold site at 55 Carr Road is part of a well-serviced pocket of Auckland that is experiencing dynamic growth due to the changing landscape of the area.
There are two inter-connecting buildings on the 809sq m site, which are being utilised as an automotive repair shop, while there is a cell phone tower used by Vodafone in the north-eastern corner of the site providing an annual net rental of $15,402 on a lease that has a final expiry in March 2023.
This property can be purchased with vacant possession or with a leaseback with the mechanical workshop in place providing the new owner with short-term holding income.
Start your property search
Gawan Bakshi, Investment Sales Broker at Colliers, says the current owners have spent nearly 20 years running their family business from this prominent location.
“The vendor has been stunned with the level of change in Mt Roskill in the past two decades as the area has completely evolved right before their eyes,” Bakshi says.
“Sites with this much potential rarely come to the market in this part of Auckland.
“There’s a distinct lack of supply of industrial sites in Mt Roskill making this an incredibly attractive purchasing opportunity with long-term upside.”
The fee simple, regular shaped site has a significant street frontage to Carr Road of approximately 16.4m and a site depth of roughly 49m.
The site is zoned Business – Light Industry Zone under the Auckland Unitary Plan, which anticipates industrial activities with a wide range of potential uses, while buildings can be up to 20m high.
Ned Gow, Investment Sales Broker at Colliers, says this property will hold vast appeal to a wide range of buyers given it could be repurposed for manufacturing, production, logistics, storage, transport, or distribution activities based on its zoning.
“Carr Road is well connected to the State Highway 20 motorway network with the Hillsborough Road on-ramp going east and west only minutes away,” Gow says.
“Auckland’s CBD can be easily accessed from here or via a main arterial route in around 15 minutes. This site is also halfway between Auckland Airport and the CBD.
Gow says Carr Road is one of the busiest streets in Mt Roskill and is well serviced by the surrounding residential catchments, providing excellent exposure to local businesses.
“The area is in the hotspot of the ‘Last Mile’ distribution network for delivery services, providing another dimension to the future development opportunities for the site.”
Mt Roskill has undergone considerable change recently and has seen a transition from its traditional industrial roots to a more retail-driven presence.
Big box retailers Briscoes and Rebel Sport are located nearby at the repositioned 4 Carr Road, alongside Kreem Cafe, as part of a popular mixed-use development, which exemplifies the shift in the area.
Colliers has been exclusively appointed to market the property for sale by auction to be held at 11am on Wednesday 18 August, unless sold prior, at Colliers, HSBC Tower, Level 23, 188 Quay Street, Auckland.
“We expect there will be significant interest in this unique site and encourage prospective buyers to get in touch for an inspection to allow them to do their due diligence immediately to avoid disappointment,” Gow says.
- Article supplied by Colliers
