A large industrial landholding in Wiri, currently owned by a yard-based occupier and offering the opportunity for future development, is on the market through CBRE.
With options to either occupy, land bank, lease out, or develop a new industrial facility in one of Auckland’s most sought after industrial precincts, the 12,050 square metre site at 25 Noel Burnside Road is likely to be considered a prime opportunity, according to the brokers handling the sale.
“The multiple options this site offers, combined with its superb location, means it is adaptable to the needs of a wide range of industrial property buyers,” says CBRE industrial & logistics director Paul Steele, who is marketing the property with national director of industrial & logistics Claus Brewer.
“It currently provides large, well-prepared space with holding income from a flexible existing lease.
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"Among the options for investors and developers are the potential to negotiate a new lease with the current owner-occupier as a passive investment or land bank holding, or to buy and hold the property with a view to constructing a new industrial facility in this prime location, which is well-established as a favoured precinct for logistics and warehousing.”
Concept plans are in place for a new industrial development on the site, which could provide a fast-tracked option for developers looking to capitalise on the low-vacancy warehousing market, says Brewer.
“Plans have been drawn up for approximately 8,000 square metres of warehouse space over two facilities, offering a head start for owner occupiers, investors and developers looking to construct a new-build solution in Wiri.”
CBRE’s research figures show prime industrial vacancy in Auckland remains extremely low, at just 0.3%, in December 2023, with persistently high occupier demand for premises in all industrial precincts across the city.
“However ultimately this site is a blank canvas, offering a sought-after, functional property solution for a variety of buyers,” Brewer adds.
Another likely buyer pool is yard-based owner-occupiers, who have been finding it increasingly difficult to secure industrial yard space in Auckland for storage of vehicles, containers or equipment.
This is a result of many undeveloped sites being purchased by developers to meet the increasing demand for warehousing over recent years, Steele says.
“Users of industrial yard space are facing a worsening shortage of available sites, with occupiers being edged out of the city’s main industrial areas where vacant land has become extremely scarce.
"Many users of yard-based property are heading further south to locations such as Drury and Takanini after coming up against a very tight leasing market for property closer to central Auckland.”
The regular-shaped land parcel, which is for sale by deadline private treaty closing at 4pm on June 20, has three existing workshops on site, making up around 850 square metres of building area.
It is located within 700 metres of two motorway interchanges to State Highway 20 (Cavendish Drive and Puhinui Road), providing excellent accessibility to the central business district, airport and destinations further south.
The Wiri industrial precinct is the fastest-growing commercial zone in Auckland, benefiting from a large local staff catchment and enhanced access to motorways. This prime location provides businesses with superior connectivity to key economic hubs, including the Wiri Inland Port, Auckland Airport, MetroPort and the Auckland central business district and south to Waikato and Bay of Plenty.
- Supplied by CBRE
