A rare offering in one of Auckland’s largest and most tightly-held industrial hubs has come onto the market.
11 Greenmount Drive in East Tamaki comprises a warehouse with a total floor area extending 3,407sqm sitting on a large developable freehold site of around 11,800sqm. The property is being marketed exclusively by JLL for sale by way of Deadline Sale by 4 pm Wednesday 12 May 2021 (unless sold prior).
The existing facility has a footprint with a site coverage of just 26 percent, comprising of office, workroom, high stud warehouse, mezzanine, amenities, and canopy space. The property has drive-around capability and the warehouse can be accessed by six roller doors.
The original structure comes with an A+ NBS Rating and was designed in 1979, while several alterations have been made since with the latest and largest being in 2002 with a high stud, clear span warehouse extension to the north of the building. The property is currently occupied with a final expiry date of 31 August 2023 with no further rights of renewal.
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The site is located on the southern side of Greenmount Drive and accessed easily by Auckland’s major arterial routes, namely SH1 via Highbrook Drive and Highbrook industrial estate with a range of surrounding amenity including complementary commercial buildings, schools, shopping centres, and public transport nodes.
The property is placed within Business – Heavy Industry zoning which opens up a wide range of industrial activities including those that may produce objectionable odour, dust, and noise emissions.
JLL Head of Industrial Jolyon Thomson says 11 Greenmount Drive provides an outstanding opportunity for the new owner to create their perfect vision.
“With around 6000sqm of flat, regular shaped road frontage land that has yet to be developed, this provides a myriad of possibilities for investors, owner-occupiers, and developers alike,” says Thomson.
“Options include developing a business park of multiple-sized tenancies to provide diversified income streams, a staged development concept that could allow an owner-occupier or investor to expand its footprint as it grows, or a unit title development as these are currently in high demand for purchase or lease.”
JLL Broker Chris Wakim says this is an opportunity not to be missed given its credentials.
“This is truly one of the last of its kind in East Tamaki with the unique opportunity to capitalise on one of the last developable pieces of land in Auckland’s largest industrial precinct,” says Wakim.
“Our 2H20 Vacancy Survey showed that South Auckland’s industrial vacancy rate is sitting at a historically low level of just 2.1%. This demand for high quality assets in East Tamaki continues to be robust, with prime yields firming to record levels. Supported by the rise of e-Commerce and low interest rates, it’s clear that this growth will continue and savvy buyers will act on that.”
