A highly functional office and warehouse building that has recently been refurbished and is available with vacant possession in Mount Wellington’s tightly held industrial precinct is being presented to the market for sale or lease.
8 Hotunui Drive, Mount Wellington has 2,180sq m of net lettable area on a 4,455sq m freehold site that is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
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.
The property is located in the heart of Mount Wellington’s industrial area, which offers good linkages to the Southern Motorway with the interchange just over 2km away.
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Mount Wellington’s proximity to the Ports of Auckland, airport, and motorway network make it a sought-after area for businesses who covet the suburb’s connectivity to key infrastructure and nearby industrial hubs such as Penrose and Onehunga.
When fully tenanted, market estimates suggest the property could be leased for approximately $500,000 net per annum, while a Spark cell tower in the south-eastern corner of the property will provide added income of approximately $13,000 plus GST per year.
With the opportunity to purchase the property outright or lease it, prospective buyers or occupants have a range of options at their disposal.
Colliers Directors Ben Cockram and Todd Kuzmich have been exclusively appointed to market the property for sale or lease by deadline private treaty closing at 4pm on Wednesday 17 May, unless sold or leased prior.
Originally built in 1985, the property has a 1,446sq m clear span warehouse that is rectangular shaped and has an approximate stud height of 6m with three full height roller doors, which open out onto a secure and fully sealed yard that provides valuable container devanning space or outdoor storage.
The offices underwent refurbishment in 2021 and span two levels. The ground floor office measures 350sq m, while the first floor space spans 354sq m. There is also 30sq m of amenities, which includes a shower and a lunchroom.
There is approximately 850sq m of yard space, which adds to the overall functionality of the site. The property includes 32 dedicated car parks providing convenience for staff and clients.
Cockram, Director of Industrial at Colliers, says having the opportunity to acquire a property with vacant possession will be highly appealing for buyers, while it also shapes as a premium leasing opportunity.
“Following the recent refurbishment, the property presents in fine order and the ground floor area could be repositioned as a showroom rather than used for office space, which provides flexibility for the future,” Cockram says.
“This property could be utilised as a head office for a company, and it would give an organisation the chance to own their own premises and not be bound to a lease.
“Alternatively, the estimated market rental rates make this a compelling investment opportunity that discerning purchasers should consider for their portfolio.
“This property may meet the demands of a firm looking for a location they can lease that will help advance their business.”
Mount Wellington offers excellent amenities through the nearby shopping centre Sylvia Park, while the area is well served by public transport. Auckland’s CBD is approximately 13km away.
Kuzmich, Director of Industrial at Colliers, says the latest research from Colliers notes the availability of industrial property in Auckland remains limited.
“The overall industrial vacancy rate across Auckland is only 1.7 per cent and the vacancy rates in Mount Wellington are stubbornly low at only 0.2 per cent for prime properties,” Kuzmich says.
“There is still a major lack of supply in the industrial market and occupants are continuing to search for a suitable premises for their operations.
“This property presents an outstanding opportunity to help alleviate those concerns.”
- Article supplied by Colliers
