Modern warehouses in Onehunga

Two neighbouring properties in the sought-after industrial location of Onehunga in Auckland present buyers with the opportunity to acquire one or both highly functional buildings.

137 and 139 Captain Springs Road, Onehunga are mirroring properties each spanning 1,115sq m on an individual freehold title measuring 1,561sq m, providing 2,230sq m of total net lettable area on a 3,122sq m site.

The modern properties are home to established tenants, offer good visibility from the road, and provide ideal warehouse to office ratios, as well as generous yard and parking areas.

Jetweld Engineering occupies 137 Captain Springs Road, while truck body building specialists Custom Motorbodies are located next door. The combined annual rental income from both properties is $458,000 plus GST with each tenancy returning $229,00 plus GST per annum.

With Te Papapa train station a short walk away and motorway access available through nearby interchanges, these properties are perfectly positioned to provide convenience for occupants and suppliers in one of Auckland’s most keenly sought industrial locations.

Colliers Directors Ben Cockram and Hamish West have been exclusively appointed to market the properties for sale via deadline private treaty closing at 4pm on Wednesday 7 June, unless sold prior.

Built in 2008/2009, the properties comprise modern industrial construction utilising a structural steel portal frame and full height tilt slab concrete panels. The roofs are made of long run steel and inset translucent panels. The warehouses each measure 962sq m and are clear-span, high stud, and of a regular shape.

Both buildings feature gantry cranes which are vendor owned and will transfer to the new owner.

Each building also has 76sq m of office and amenity space at the front of the structure, a 42sq m mezzanine lunchroom, and 35sq m of mezzanine storage. There are 10 car parks at each property.

Jetweld Engineering, structural steel specialists with more than 40 years of industry experience, have a 14-month lease on their building, which began on 1 April.

Custom Motorbodies are in the midst of a six-year lease that runs until 30 November 2026 with no further rights of renewal. Both leases include built-in annual increases.

Cockram, Director of Industrial at Colliers, says the properties provide flexibility for prospective purchasers.

“Buyers have the opportunity to acquire one or both of these outstanding assets. Modern warehouses in this location are extremely rare,” Cockram says.

“These functional properties are well-positioned to suit a multitude of future uses due to their favourable stud heights and low office to warehouse ratios as well as generous parking and storage capabilities.

“The Onehunga industrial precinct is home to a range of older style warehouse buildings making these modern and user-friendly properties stand out in the crowd.”

West, Director of Industrial at Colliers, says these properties benefit from Onehunga’s strategic location, which is in demand among industrial tenants and landlords.

“Given Auckland Airport is easily accessible via the nearby motorway network and its proximity to popular industrial hubs Mount Wellington and Penrose, Onehunga has long been a sought-after precinct for businesses. The large surrounding labour catchment is also a major drawcard for employers,” West says.

“Research from Colliers notes that industrial vacancy rates across Auckland remain at historic lows due to pent up demand and the constrained supply of available premises.”

The properties are zoned Business – Light Industry Zone under the Auckland Unitary Plan. The zone anticipates industrial activities that do not generate objectionable odour, dust, or noise.

- Article supplied by Colliers