A prominent property for sale in Auckland’s East Tāmaki offers a rare opening for a new occupier to set up business in a premier industrial location with near-zero vacancy.
The versatile warehouse, showroom and office building sits in a high-profile position on key arterial Harris Road near the busy intersection with Ti Rakau Drive, where it is exposed to an average of some 30,000 passing vehicles daily.
The main tenancy, spanning nearly 1,000 square metres, is available with vacant possession.
Its combination of warehouse, showroom and office areas makes it suitable for a variety of businesses in an area that is home to numerous national and international-brand occupiers.
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Having recently undergone a full refurbishment, the warehouse, showroom and office present an immaculate canvas for the next occupier and are move-in-ready.
A lease over a smaller first-floor office tenancy of nearly 250 square metres generates an annual net rental return of $30,000 plus outgoings and GST.
The current lease runs through to 2026 with two further five-year rights of renewal and built-in rental growth.
The building has an A-plus grade Initial Evaluation Procedure seismic rating of 100 percent of new building standard.
Bayleys salespeople marketing the sale say the newly refurbished property is a rare offering for occupiers and investors in East Tāmaki, where industrial vacancy remains below one percent and land supply is extremely scarce.
The approximately 1,230-square-metre freehold unit-titled property at 166B Harris Road is being offered for sale through Tim Bull and James Hill of Bayleys South Auckland.
It will be sold by deadline private treaty closing on Monday 22 April, unless sold prior.
“Opportunities to acquire an industrial asset of such quality in this location are extremely hard to find, particularly with such a prominent presence and profile on Harris Road,” Bull said.
“This property will hold strong appeal for occupiers seeking high visibility in one of Auckland’s most coveted industrial locations where vacancy remains below 1 percent.
“The building is configured with two separate tenancies, supported by 25 on-site car parks.
"The main tenancy is ideal for businesses seeking a combination of clear-span warehouse with multiple roller doors plus showroom space.
"New owners will also enjoy the attractive bonus of a supplementary income stream from the upstairs tenancy, which is leased long-term,” said Bull.
The premises had the potential to be customised further for future occupiers’ needs, he said.
The Harris Road property sits within the Business – Light Industry zone under the Auckland Unitary Plan.
Hill said this provided for activities such as trade retail, manufacturing, logistics, storage, transport and distribution, provided they do not generate objectionable odour, dust or noise.
“With more than 2,000 businesses and 40,000 employees, East Tāmaki is well established as one of Auckland’s industrial powerhouses.
"It’s home to a diverse mix of storage, distribution, and light and heavy manufacturing businesses supported by commercial and office users.
“Business occupiers here benefit from a strategic and well-connected location in a fast-growing part of Auckland.
"Harris Road is a key arterial linking East Tāmaki and the Eastern Suburbs.
"The growth of nearby Botany, Ormiston and Howick ensures an ample labour force, while the addition of the Highbrook connection to State Highway 1 has significantly improved the accessibility and amenity offering,” Hill said.
- Supplied by Bayleys
