Two neighbouring properties with favourable zoning in the sought-after Wairau Valley industrial precinct offers buyers of all kinds the opportunity to secure a prime asset with vast growth potential.
99 and 101 Wairau Road, Wairau Valley have a total combined building area of 2,030sq m on 3,599sq m of land that is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
The freehold properties can be purchased separately or as a combined offering and are in an Identified Growth Corridor Overlay, which is applied to a limited number of significant road corridors or segments and offers a 20m height limit on potential developments.
The properties are fully tenanted and provide $456,309 plus GST and operating expenses in total net annual rental income. All tenancies include demolition clauses, providing significant appeal for developers.
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Both highly visible sites offer dual access from Wairau Road and Currys Lane and are surrounded by high-profile businesses such as Mitre 10 Mega and a Pak ‘n Save supermarket. The properties also have excellent exposure to the Northern Motorway and Wairau Road, a major arterial route.
Auckland’s CBD is approximately 13km away, while the Takapuna commercial centre can be reached in only eight minutes.
Colliers Directors Shoneet Chand and Matt Prentice have been exclusively appointed to market the properties for sale by deadline private treaty closing at 4pm on Tuesday 19 July, unless sold prior.
99 Wairau Road has 1,111sq m of building area on 1,831sq m of land, which is spread across three units, one of which is accessed via Currys Lane. The total net annual rental income from the property is $175,419 plus GST and operating expenses.
-Discount Tyres leases Unit 1 on a two-year term with rights of renewal in place leading to a final expiry in February 2029. Unit 1 comprises 31sq m of office space, a 277sq m warehouse, and nine car parks.
-Clean Car Products Limited leases Unit 2, which comprises front and rear warehouses spanning 173sq m and 160sq m respectively, and their lease has a final expiry of October 2024. They also have access to six car parks.
-AR Limited occupies the unit accessed via Currys Lane, which includes 51sq m of office and amenities space, a 419sq m warehouse, and four car parks. Their lease has a final expiry of March 2027.
101 Wairau Road is a two-level office and showroom property with 919sq m of total floor area on a 1,768sq m site. The total net annual rental income from the property is $280,890 plus GST and operating expenses.
-Play On Limited – Green Zone rents 377sq m of downstairs office space, 11 car parks, and their lease has a final expiry of December 2030.
-Play On Limited – Red Zone occupies 132sq m of downstairs office space with five car parks and their lease expires in January 2031.
-Edge Advisory and Accounting is the upstairs office tenant, occupying 241sq m of space, with access to 13 car parks and their lease has a final expiry of March 2032.
-The office which is accessed via Currys Lane is home to Mount Riley Wines and they lease 168sq m of space and seven car parks on a lease with a final expiry of January 2027.
Chand, Director of Investment Sales at Colliers, says the highly functional properties offer options for buyers of all kinds.
“Investors will see value in the long-term leases that are in place for established occupants, representing a strong tenant covenant,” Chand says.
“The demolition clauses may hold appeal for developers who could take advantage of the favourable zoning and reposition or redevelop the properties.”
Prentice, Director of Sales and Leasing at Colliers, says these properties are in a highly desirable location with excellent accessibility and street exposure.
“This is an outstanding purchasing opportunity, and we expect there will be strong interest in these properties and encourage all interested parties to contact us promptly.”
- Article supplied by Colliers
