Two under-developed industrial sites with favourable zoning in Auckland are being presented to the market for sale and will draw the attention of owner-occupiers, investors, and developers.
88-98 Patiki Road, Avondale is home to a 439sq m warehouse on a 5,059sq m site, while 28 Spartan Road, Takanini has 746sq m of total net lettable area on a 3,230sq m site.
Both freehold properties are zoned Business – Heavy Industry Zone under the Auckland Unitary Plan, and are tenanted by Hynds Pipe Systems, the largest operating company within the Hynds Group.
The properties can be purchased individually or together.
Start your property search
Hynds operates a distribution network of 35 branches throughout New Zealand, supplying over 40,000 product types for drainage, watermain, environmental, industrial process, and rural applications.
Colliers Directors Matt Prentice and Shoneet Chand have been exclusively appointed to market the properties for sale via deadline private treaty closing at 4pm on Tuesday 28 November, unless sold prior.
88-98 Patiki Road is in an A-grade location with the Northwestern Motorway only moments away, meaning customers and suppliers have exceptional access to other areas of Auckland.
Hynds Pipe Systems are currently in a two-year lease that runs until July 2025 and there is one further right of renewal for two years.
Their lease agreement provides $277,500 plus GST and operating expenses in net annual rental income.
The functional warehouse at the property spans 377sq m, while the office measures 62sq m. The sealed yard is 3,820sq m and there are 13 dedicated car parks.
Prentice, Director of Industrial Sales and Leasing at Colliers, says 88-98 Patiki Road is an outstanding offering given its strategic location and low site coverage.
“Investors will be drawn to the tenant covenant of a long-established occupant at this property, while owner-occupiers may show interest with an eye to utilising the site when the current lease agreement ends,” Prentice says.
“There is a significant opportunity to further intensify the usage of the site and a major development could be on the cards.”
At 28 Spartan Road, Hynds Pipe Systems are in the final years of a lease that expires in September 2025.
The lease provides $190,000 plus GST and operating expenses in net annual rental income.
The stand-alone building has a 629sq m warehouse and two floors of office space and the level contoured site is perfectly positioned for a future development.
Hamish West, Director of Industrial at Colliers, is marketing 28 Spartan Road alongside his colleagues Prentice and Chand and says the property has excellent road exposure.
“The property is highly visible and is easily accessible from Spartan Road. State Highway 1 is also nearby, promoting connectivity across the wider Auckland region,” West says.
“This location is a prime spot in Takanini and given the noted lack of supply of industrial space across Auckland, this property will hold considerable appeal for buyers who have the opportunity to acquire a premises that could be vacant within two years.
“Research from Colliers notes there is no available prime industrial space in the Manukau and Wiri precinct, while East Tāmaki has a prime vacancy rate of 0.1 per cent.”
Chand, Director of Investment Sales at Colliers, says the zoning will be appealing to buyers given the flexibility it affords future occupiers.
“The Business – Heavy Industry Zone provides for industrial activities that may produce objectionable odour, dust, and noise emissions,” Chand says.
“These are two of the most impressive industrial properties we have brought to the market this year and they have extensive future growth potential.
“Having the opportunity to acquire industrial properties with such low site coverage and user-friendly zoning is incredibly rare and we encourage all interested parties to contact us immediately.”
- Article supplied by Colliers
