CBRE is offering the chance to own an industrial property located directly opposite the main entrance to the IKEA store currently under construction in Mt Wellington.
3 Clemow Drive is leased to Motorcorp Group for the next year, offering an opportunity for either investors or owner-occupiers to enter a highly sought after commercial precinct.
John Bedford, CBRE senior director of industrial & logistics, who is marketing the property for sale with managing director of industrial & logistics Bruce Catley, said the offering presents an ideal chance to benefit from a prime location with excellent brand visibility.
“This site is quite unique in that it offers tremendous visibility for its occupier from the Mt Wellington motorway interchange as well as being directly opposite the main entrance to the IKEA store.”
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Offered for sale by deadline private treaty closing at 4pm on Wednesday 30 October, the light industry-zoned property is currently occupied by Motorcorp Group’s Jaguar and Land Rover dealership.
Motorcorp Group is taking a 12 month leaseback to the site while the company prepares for its upcoming relocation. This provides the new owner with holding income and time to plan their own use of the property, said Catley.
“The 12 month lease will be of benefit to many potential buyers, including owner occupiers who have breathing space to prepare to take occupation of the site, as well as investors looking to lease it to a new tenant.”
The property includes a spacious, high stud warehouse constructed in the 1980s and high quality, refurbished, corporate-grade offices and amenity areas.
The open plan office space is spread over two levels, connected by an open timber staircase, and also includes management offices, meeting rooms and a boardroom. The office area has excellent flow through a dispatch office into the warehouse, which provides easy loading access via generous roller doors.
The current configuration makes the property readily adaptable for a wide range of uses including head offices, distribution centres and showrooms. Other permitted uses under the Business Light Industry zoning rules include manufacturing, storage, transport, service stations, trade supply and certain retailing activities.
Alongside the main building, which provides 1,941sqm of floor area, is a large, secure sealed yard and 22 car parks, offering further flexibility for occupiers, Bedford said.
“We expect this opportunity to be highly sought after, given the property’s position facing the IKEA store, which is on track to open in 2026. Its location opposite IKEA should help ensure it will perform exceptionally well as a long-term investment asset.”
The tightly held nature of the Mt Wellington commercial precinct in general is a further drawcard, he said.
“Ongoing development at nearby Sylvia Park is also highly positive for this locality and is expected to help underpin future property values in the wider precinct.”
Positioned a five-minute drive to Sylvia Park and 15 minutes from Auckland CBD, the property provides quick access to the motorway network and multiple alternative routes including Great South Road.
This makes it an ideal location for businesses requiring a central Auckland base from which to service customers within the city and beyond.
A further benefit for commercial property owners in Mt Wellington is the area’s proximity to a very large and well established residential catchment. This is of benefit both to local residents who work in the area and enjoy a relatively hassle-free commute; as well as businesses which have access to a large and diverse workforce.
- Supplied by CBRE
