With developers edging back into the property arena, Bayleys salespeople marketing a freehold stand-alone light industrial property with scale and redevelopment potential in West Auckland’s preferred industrial precinct are expecting good interest.
The 8,679sqm landholding at 414-416 Rosebank Road is available now with vacant possession after 24 years of occupation by commercial dishwasher manufacturer Washtech. The well-established firm outgrew the premises and has relocated its business 700m to the north.
The existing 2,900sqm buildings comprise mainly warehousing with supporting office and staff amenities and are backed up by a substantial 1,500sqm yard, drive-around capability and parking for around 70 cars.
Led by Sunil Bhana and Alister Hitchcock, the property is for sale by negotiation through Bayleys Northwest.
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After a couple of more subdued years, early confidence is being demonstrated by the development sector, says Bhana, adding that a smart buyer could jump in and be well-positioned to take advantage of the next economic wave.
“When viewed through a development lens, the property’s Light Industrial zoning allows a variety of options to be explored, and the established Rosebank Road precinct has an advantage over other development-earmarked land in that the infrastructure is in place to hit the ground running.
“As the closest industrial precinct to the CBD, Rosebank Road is well-placed for streamlined traffic movements and is proven for operational efficiencies.
“The fact that the long-time former occupier of the subject property has moved to larger premises fractionally to the north demonstrates the suitability of the location for light industrial use.”
While not ruling out interest from add-value investors, Hitchcock says the best and highest use for the generously sized site is likely to be a new-build industrial premises for a single occupier, or an industrial unit development.
“An owner-occupier may wish to work with the existing functional structure or opt for a design-build project.
“Alternatively, a developer could leverage the identified regionwide shortage of 200-300sqm industrial units as this is proving to be the sweet spot for occupiers. We’re fielding strong leasing enquiry for any stock of that size and there’s very little available.”
The property for sale is set back from the road overlooking the Whau River estuary, which gives privacy away from the busy arterial. It is located 1.5km from the Northwestern State Highway 16 interchange and 11km from central Auckland and the port.
Rosebank Road remains one of Auckland's most coveted commercial and industrial areas, says Bhana, with high-profile national and international tenants well-entrenched.
“The connectivity that the Waterview Tunnel unleashed has been a gamechanger for Rosebank Road occupiers who need links to South Auckland and Auckland Airport.
“Whenever we survey occupancy in the Rosebank Road precinct, the vacancy levels are super low, and the subject site offers unparalleled opportunity in an area where they’re simply not making any more land.”
- Supplied by Bayleys
