An expansive industrial site with three established tenants and future large-scale development potential has gone up for sale in the heart of a South Auckland growth hub.
The site for sale at 68 Hunua Road, Papakura, sits within an established precinct which is home to a major concentration of heavy industry.
Three tenancies – leased to a leading metal recycler, a national masonry supplier and a Spark cellphone tower – generate total net rental income of $1,041,791 plus outgoings and GST per annum.
Approximately 14,000 sq m of the site, containing some 2445sq m of buildings, are leased to Global Metal Solutions (GMS).
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Founded in 2011, GMS is a leading recycler of metal products including scrap cars and electronic waste. With sites in Auckland, Hamilton and New Plymouth, its services include transport, collection and bin exchange, and it sells products directly to brokers, mills and consumers worldwide.
NZ Brick Distributors occupies some 16,000sq m with 1675sq m of buildings.
Since its establishment in 2013, this Auckland-based business has built up a network of offices and outlets in Tauranga, Hamilton, the Wellington region and Christchurch. It supplies products nationwide under a number of respected brands.
A third tenancy is leased to Spark which has a cellphone tower at the site’s southwestern corner.
The freehold land and buildings are now being marketed for sale by deadline private treaty closing on Thursday 28 October (unless sold prior), through Bayleys South Auckland.
Salespeople Nick Bayley, Karl Price and Matt Dell said the property consisted of a rectangular site of more than 4ha with buildings totalling approximately 4120sq m.
“This is a fully-fenced, level property with a mixture of large metalled and concreted yard areas, weighbridge facilities and various buildings spread across the site. The property offers about 135m of frontage and two access points to Hunua Road,” said Bayley.
“In addition to the three established tenancies, the site includes approximately 7600sq m of vacant land which a new owner could occupy or lease to a new tenant and add to the total rental income.”
The land’s Business – Heavy Industry zoning under the Auckland Unitary Plan also lent the site considerable future development potential, said Bayley.
Price said heavy industry zones were typically located close to key freight routes and generally contained sites big enough to accommodate large-scale industrial activities.
“That’s reflected not only in the size of the property for sale, but also in neighbouring sites.
“The surrounding area is home to key manufacturing facilities for the likes of Griffins Foods and Asahi Beverages, plus other national brands such as ITM, and a range of operators in engineering, wood processing, automotive and construction supplies,” said Price.
Dell said Papakura generally was undergoing extensive growth which would transform the area into one of Auckland’s most sought-after commercial and industrial hubs in coming years.
“Along with nearby Takanini and Drury, Papakura has been targeted by city planners for major expansion with large tracts of land being opened up for future residential development and population growth.
“The area is poised to benefit from several improvements in the transport network, including State Highway 1 improvements between Papakura and Drury, upgrades to Mill Road and electrification of the Papakura-to-Pukekohe rail line. Further benefits will flow from the availability of development land and an abundant labour force,” Dell said.
The Hunua Road site is handy to main arterials, public transport and key transport links heading north and south. It sits within a five-minute drive of Papakura town centre and amenities including supermarkets and well-known retailers.
- Article supplied by Bayleys
