A strategically located warehouse and office building with excellent street exposure in Auckland’s sought-after industrial hub of Onehunga and Penrose offers buyers of all kinds the opportunity to acquire an asset that has and will continue to stand the test of time.
275 Mount Smart Road, Onehunga has 590sq m of total floor area on an 813sq m freehold site that is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
The property is easily accessible from the road and offers approximately eight on-site car parks, providing convenience for occupants or visitors to the site.
Given the building is available with vacant possession this will be highly appealing to prospective purchasers due to the lack of available industrial space across Auckland where vacancy rates remain stubbornly low.
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The Onehunga and Penrose area is a desirable industrial location for occupiers because of its accessibility to both motorway networks, relatively short distance to the CBD, and the proximity to the rail network, inland ports, and Ports of Auckland.
The Business – Light Industry Zone anticipates industrial activities that do not generate objectionable odour, dust, or noise. This includes manufacturing, production, logistics, storage, transport, and distribution activities.
Colliers Brokers James Dickey and Ben Cockram have been exclusively appointed to market the property for sale with the deadline for offers closing at 4pm on Thursday 13 April, unless sold prior.
Originally constructed in 1975, the property possesses excellent fundamentals and has been built to last.
The clear span warehouse is a regular shape, has a generous stud height of 4.5m to 6.3m, and measures approximately 498sq m. The warehouse can be accessed via a single roller door and is of concrete block construction, while the roof comprises long run steel over the structural framework.
The office and amenities span 92sq m and offer the incoming owner plenty of scope to customise the fit-out and add value to the property.
Dickey, Industrial Sales Broker at Colliers, says given the functionality of the building it can be used for a wide variety of purposes.
“Owner-occupiers will be attracted to this opportunity given it will give them the chance to secure their own premises and not be bound to a lease, while there is also room to add value for the long-term,” Dickey says.
“Alternatively, an investor may see the potential on offer and choose to purchase the property and lease it and we predict there would be a number of interested parties.”
Cockram, Director of Industrial at Colliers, says recent research from Colliers highlights how hard it is to secure industrial space.
“The overall vacancy rates for all industrial property across Auckland is only 1.8 per cent, while the prime vacancy rate in the Onehunga and Penrose precinct is a mere 0.3 per cent,” Cockram says.
“Industrial properties in this hub are tightly held and are rarely presented to the open market for sale.
“Given the dearth of supply in the market, this property will be highly appealing for an array of buyers.”
Cockram says Onehunga and Penrose is a keenly sought location for industrial occupiers because it is a key piece of the region’s transport network given the convenient access to the motorways.
“Many of the largest distribution and logistics facilities are based in the area, which benefits from its accessible links to nearby industrial locations such as Mount Wellington and the Airport Corridor.
“Given the potential on offer through the opportunity to acquire a prominently positioned asset with vacant possession in a tightly held industrial area we expect there will be considerable interest in the market and encourage all interested parties to contact us immediately.”
- Article supplied by Colliers
