Modern warehouse/office premises now for sale or lease in Onehunga present a rare opening for occupiers, investors and tenants in a top Auckland industrial location.
The high-profile Neilson Street property is part leased to a law firm which occupies an approximately 165-square-metre ground-floor office with six car parks.
A vacant high-stud, clear-span warehouse and first-floor office beckon new occupiers in an area with precious little industrial vacancy.
The approximately 711-square-metre unit-titled property comes with a total of 12 dedicated car parks.
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It forms part of the celebrated Woollen Mills complex, completed in 2020 with 26 high-spec industrial units on the site of the former Onehunga Woollen Mills.
The office lease to Martelli Yaqub Lawyers generates an annual net rental return of $60,256 plus outgoings and GST.
The current lease runs through to 2025 with three further three-year rights of renewal. The lease agreement provides for annual CPI rent reviews capped at 5 percent, replaced by market reviews at renewal.
With offices at the Neilson Street site and in Auckland s CBD, the law firm offers an array of legal services, including corporate and commercial law, conveyancing, family law, trusts, wills and estate planning.
The approximately 397-square-metre warehouse and 149-square-metre first-floor office, along with six car parks, are available for lease with an asking rental of $144,000 plus outgoings and GST per annum.
Unit 6, 273 Neilson Street, Onehunga, Auckland, is being marketed for sale or lease by Jean-Paul Smit, William Gubb and James Valintine of Bayleys Real Estate.
It is being offered by way of a tender which will close on Tuesday 24 September, unless the property is sold or leased earlier.
Smit said the property fronted Neilson Street with excellent exposure optimised by full-height glazing to the ground-floor and vacant level-one office spaces.
The vacant clear-span warehouse offers a high stud of 7.5 to 9.5 metres and is accessed via a large five metre by five metre roller door.
Complementing this is the high quality vacant office space on the first floor.
Multiple entry and exit points at the site facilitate container-friendly truck access, said Smit.
Gubb said the property offered multiple options for buyers or tenants.
"With the ground-level office tenanted, there s a prime opportunity for a buyer to occupy vacant areas and enjoy the income, or to lease out the balance of the building for a split-risk investment.
"For a new tenant, there s the chance to move their business into quality high-profile premises in a desirable location.
"The unit on offer sits prominently within the Woollen Mills development, which provides a modern, fully gated environment with heavy industrial zoning, an exclusive container set-down area for each unit, and plenty of parking," said Gubb.
Valintine said the strategic location would be a key attraction for buyers and occupiers.
"The Onehunga industrial precinct is one of the most intensively developed industrial localities in Auckland. This is a long-established hub of industry with many substantial buildings housing national and international occupiers, some of which have been recently refurbished.
"This, along with the efficient transport networks augmented by the opening of the Waterview Tunnel, have increased demand in an area already in short supply.
"With convenient access to the Southern and Southwestern motorways, and being within about 20 minutes drive of the city centre and Ports of Auckland, this is a highly efficient location for business and industry," Valintine said.
- Supplied by Bayleys
