An under-utilised freehold site that is currently home to a service station in the heart of Ōtāhuhu’s industrial precinct offers buyers of all kinds the opportunity to acquire a strategic asset with strong underlying land value and substantial long-term development potential.
9 Saleyards Road, Ōtāhuhu comprises 753sq m of total net lettable area on a flat site that spans 2,000sq m and is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
Home to a Mobil service station, the property, which is being placed on the market for the first time in more than 40 years, offers two access points and has significant profile to a busy road with more than 45m of street frontage.
The longstanding tenant, Smart Master Limited trading as Mobil, has occupied the site since May 2003 and their current six-year lease runs until 2025. There is one further right of renewal for five years, leading to a final expiry of April 2030.
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The lease agreement returns $105,126 plus GST in net annual rental income and there are annual CPI reviews included in the lease with a market review on the renewal in April 2025.
This tightly held location benefits from its proximity to nearby motorway on-ramps, while neighbouring industrial tenants greatly benefit from its ease of access to the Wiri Inland Port, Auckland Airport, and Ports of Auckland.
Colliers Brokers Ben Cockram and James Dickey have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 9 August, unless sold prior.
The property comprises an 82sq m retail shop with associated staff offices and amenities and a 68sq m car workshop at the rear of the main building.
The 525sq m forecourt includes eight fuel pumps along with an LPG pump configured in two islands and situated under a canopy.
In addition, there is a rear secured yard area spanning 425sq m, with a small additional low stud storage area that measures 30sq m.
Cockram, Director of Industrial at Colliers, says there’s considerable growth potential attached to the property.
“The holding income means the new owner will be able to strategically plan their future moves for the site, while enjoying a steady rental stream,” Cockram says.
“With the lease agreement up for renewal in two years, there is potential to grow the rental income as there has not been a market review since 2019.
“The long-term value of this offering lies in the land. This is a highly versatile site with exceptional access from the road and significant exposure to the high traffic volumes that pass through the area. Any future development at the property could intensify the usage of the site and unlock its true potential.”
Dickey, Industrial Sales Broker at Colliers, says Ōtāhuhu is one of the key industrial hubs in South Auckland that continues to demand the attention of landlords and occupiers.
“Recent research from Colliers notes the overall vacancy rate for industrial property across the wider Auckland region is 1.7 per cent, which is the same figure as the Ōtāhuhu area,” Dickey says.
“The ease of access to neighbouring industrial locations such as Mount Wellington, Penrose, and Onehunga, as well as key transport links, means it is ideally suited for the future.
“It is rare to find landholdings of this size and contour that have such vast redevelopment potential and we encourage all interested parties to contact us immediately to ensure they don’t miss out on this exciting purchasing opportunity.”
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.
- Article supplied by Colliers
