Neighbouring properties in the tightly held suburb of Penrose present owner-occupiers, add-value investors, or developers with a rare chance to secure a prime location for their next project in one of Auckland’s most sought-after industrial precincts.
16 Bassant Avenue is a 1550sq m freehold site with a 478sq m warehouse and office building and is located next to 18A and 18B Greenpark Road, which comprises two freehold titles with a total site area of 2699sq m. The properties can be purchased individually or in one line.
The sites are zoned Business - Light Industry Zone and are conveniently located with Great South Road and State Highway 1 only minutes away.
Colliers brokers Ben Cockram, Hamish West, and James Dickey have been exclusively appointed to market the properties for sale by deadline private treaty closing at 4pm on Wednesday 3 November, unless sold prior.
Start your property search
16 Bassant Avenue will hold particular appeal to a range of buyers given the spacious and functional clear-span warehouse that has a stud height of 6.4m at the portal knee, rising to 8m at the apex, and includes 21sq m of office space and amenities that are attached at the front of the building.
The 457sq m warehouse features three-phase power and can be accessed via five roller doors.
Cockram, associate director of industrial at Colliers, says the property provides excellent street access directly from Bassant Avenue, which is a quiet cul-de-sac that runs off Walls Road.
“Given the vast landholding of some 1550sq m, this property offers low site coverage of approximately 30 per cent, providing the new purchaser with a range of options for the future,” Cockram says.
“It is incredibly rare to see industrial land like this come to the market in Penrose given it is such a tightly held location among commercial and industrial operators.”
18A Greenpark Road totals 1457sq m and 18B Greenpark Road totals 1242sq m combining for a 2699sq m site with dual access from Greenpark Road and Bassant Avenue.
West, director of industrial at Colliers, says the Greenpark Road properties are unique in the market and make for one of the most intriguing listings in Penrose this year.
“This is a coveted location and a golden find in Penrose given the development potential for a site of this size. The 502sq m warehouse is located at 18B Greenpark Road but is in poor condition and is ripe for removal before the new owner takes advantage of this outstanding opportunity,” West says.
“It’s hard to think of a location with more potential than these sites where there is so much long-term upside available in one purchasing opportunity.
“There is no property like this available in Penrose at the moment, an area which has long been considered an industry powerhouse and is one of the most established and central suburbs in Auckland.
“Penrose’s popularity can be attributed to its ease of access to State Highway 1, its relatively short distance from the CBD, good access to Auckland Airport via State Highway 20 and its proximity to the nearby labour pools of Onehunga, Mount Wellington, Ellerslie, and Greenlane. Its accessibility makes it an industrial hot spot for tenants, owner occupiers and investors.”
Dickey, industrial sales broker at Colliers, says there is a distinct shortage of developable industrial land across Auckland, which makes this a premier purchasing opportunity.
“Penrose is one of the city’s prime locations that remains appealing to a range of buyers and these properties offer vast potential in a highly desirable industrial precinct in the heart of Penrose,” Dickey says.
- Article supplied by Colliers
