JLL is offering the Legacy Portfolio to market, a collection of properties in the sought-after industrial hub of Wiri.
Available to the market for the first time, this is a sound investment opportunity for the astute buyer to add a group of industrial sites to their portfolio. The Legacy Portfolio is now available via deadline date, with offers closing on 12th October, 2023, unless sold prior.
This collection in Auckland’s key industrial corridor of Wiri is made up of three properties: 14 Mana Place, 24 Hobill Avenue, and 71a Wiri Station Road. These assets will be offered to the market as a trio or individually, so investors and owner-occupiers of all sizes are encouraged to enquire.
Strategically positioned in close proximity to one another, presenting an advantageous split-risk opportunity for the astute buyer who secures this portfolio, the three properties have significant potential, rental upside, and value appreciation prospects. As Auckland’s industrial requirements boom, critical hubs such as Wiri will play an important role in the future of the city and its forecast population expansion.
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This diverse collection of properties caters to both owner-occupiers and investors, with each property possessing unique qualities that can be leveraged to take full advantage of the market. With such a compelling blend of attributes, the Legacy Portfolio holds immense promise for individuals seeking to capitalise on the thriving industrial landscape and take a commanding foothold in the popular area.
Now available for sale by deadline exclusively through JLL, 14 Mana Place, 24 Hobill Avenue, and 71a Wiri Station Road make a captivating trio. Offers close on 12th October 2023, unless sold prior.
JLL Logistics and Industrial Director, Richard McNaught, highlights 14 Mana Place, which sits on the largest block in the Legacy Portfolio, as a major drawcard for investors or owner-operators looking at this rare opportunity.
“14 Mana Place commands attention with its substantial site area of 7,307 sqm and established tenant with a desire to extend the current lease beyond its expiry in July 2024,” says McNaught. “This property represents a highly enticing opportunity for savvy investors in search of a reliable and secure income stream. Moreover, owner-occupiers inherit the potential to transform this strategically positioned site into a thriving business hub that caters to their unique needs and objectives. Wiri is a suburb with a strong reputation in the industrial services sector, and investors can take advantage by shaping the site at 14 Mana Place to suit the evolving needs of the market.”
JLL Logistics and Industrial Broker, Hayden Church, suggests that 24 Hobill Avenue’s flexibility and customisability will appeal to investors with a value-add mindset to maximise potential returns, while owner-occupiers can occupy and lease to suit their objectives.
“24 Hobill Avenue offers a flexible and versatile space that is a real blank canvas, brimming with potential for both owner-occupiers and investors to create a site that works for their specific needs,” says Church. “Divided into three units and currently housing two separate tenants, this property also benefits from an additional income source in a cell tower installed on-site. With endless possibilities for utilisation, the right buyer will see this as a fantastic opportunity to create a future-fit industrial offering that appeals to a wide range of businesses, or their own.”
JLL Logistics and Industrial Senior Broker, Charlie Todd, says the high-profile investment at Wiri Station Road will give the new owner peace of mind that their new asset has been maintained to a high standard.
“71a Wiri Station Road is in a sought-after location within Wiri and is anchored by a reputable tenant,” continues Todd. “Recent upgrades, including a new roof and canopy, have resulted in reduced management and maintenance demands which positions this property as a great addition to the collection. 71a Wiri Station Road is the perfect complement to a broader investment portfolio, while less seasoned investors can take comfort in the location, split-risk nature, and entrenched tenants.”
With a distinctive and well-balanced combination of short- and long-term leases in place, the Legacy Portfolio offers ample opportunities to add value and promises potential for rental upside and strategic repositioning. This unique combination of attributes ensures unparalleled versatility for investors.
- Article supplied by JLL
