A versatile and under-capitalised site zoned for heavy industry has gone up for sale in one of Auckland’s leading industrial growth hubs, presenting rare opportunities for owner-occupiers, add-value investors and developers.
The 14,451sq m freehold site at 52 Spartan Road, in the heart of the Takanini industrial precinct, incorporates two high-stud warehouses and a substantial yard. Two national tenants provide total net holding income of $905,449 plus outgoings and GST per annum.
The two warehouse buildings, with a combined net lettable area of 6,940sq m, are leased to Tegel Foods, New Zealand’s top poultry producer, on a lease with an expiry in January 2023.
Fluidex, the country’s leading transporter of bulk liquids and dry powder, leases the 4,000sq m front yard area. Its lease extends to August 2022 with a 12-month termination option.
Start your property search
Colliers has been exclusively appointed to market 52 Spartan Road, Takanini, Auckland, for sale by deadline private treaty closing at 4pm on Wednesday 14 July, unless it is sold prior.
Greg Goldfinch, National Industrial Director at Colliers, says the property will appeal to a wide range of buyers in a market starved of quality industrial property.
“Owner-occupiers needing functional, good-value buildings and yard can buy and plan their move. Investors will see upside in the rentals, while for developers there’s an opportunity to purchase a premium site with the ability to build and/or renovate.
“The property’s location in Takanini’s established industrial hub positions it perfectly to benefit from the southward trend of Auckland’s population growth, infrastructure investment and ongoing development,” says Goldfinch.
The site for sale is level and has some 37m of frontage to Spartan Road. The front portion of the property is a fully-fenced, secure gravel yard currently leased by Fluidex Transport.
The rear of the site, tenanted by Tegel, which also uses an adjacent property, contains two clear-span warehouses of some 4,632sq m and 2,280sq m, plus plant room and office. These structures are accessed via generous concrete yards at the front and rear of the buildings.
Paul Higgins, Industrial Director at Colliers, says the warehouses each have a minimum stud height of approximately 5m, rising to some 13m.
“Their construction features concrete tilt-slab and long-run metal. There are multiple roller doors around the buildings opening onto the sealed yard. There is an internal wall between the two sheds which have been configured to allow internal access to be formed in the future.
“A small office and toilet adjoin the northern elevation of the store located to the western boundary.”
“The site contains various hardstand areas used for access and, potentially, for parking and containers to the northern end of the site. A level, rectangular parcel of vacant land located to the Spartan Road frontage presents potential opportunities for further development or storage of vehicles, trucks and containers,” says Higgins.
Josh Franklin, Industrial Director at Colliers, says a key attribute of the property’s Business – Heavy Industry zoning under the Auckland Unitary Plan is that it supports sites large enough to accommodate large-scale industrial activities, typically close to key freight routes.
“Auckland has a well-recognised shortage of industrial land, and the supply of land for heavy industry is even more scarce.
“This is an undercapitalised site with holding income from two national tenants. Located in one of New Zealand’s fastest growing locations, within 500m of motorway onramps to State Highway 1, this is a truly rare offering that is likely to be keenly sought-after.
“Spartan Road’s access to key arterials and highways, and its strategic positioning on the fringe of South Auckland’s growing labour pool while being near booming new developments such as Drury South, will assure its status as a popular industrial location for years to come,” Franklin says.
