Commercial -
Bigger is better on the southern corridor
A substantial industrial premises along Auckland’s high-growth southern corridor provides a rare opportunity at scale and value in a rapidly evolving area, Bayleys brokers say.
The property spans 3.2381ha (more or less) of freehold land at 1, 3 and 7 Inlet Road, which is in a prime position just off main arterial Great South Road.
Bayleys South Auckland Commercial & Industrial team director Sunil Bhana says the sheer size and scope of the property and its high-growth location presents an undeniable opportunity for owner-occupiers, add-value developers and investors.
“Intense demand for logistics space has persisted past the pandemic, with the trend currently exacerbated by a low supply level and restricted new development pipeline.
“Auckland’s industrial environment is experiencing extremely low vacancy levels, particularly in established locations proximate to key transport routes and distribution points.
“The subject property provides vast upside potential from adjacency to the Auckland International Airport, Ports of Auckland and inland freight hubs.
“Rapid uptake from occupiers in new industrial developments nearby, including Drury South Crossing, Basalt Business Park and Logos Wiri Logistics Estate, reflects the high demand for this investment category, increasing the value proposition for a purchaser eager to maximise the property’s growth potential.”
Mr Bhana is marketing the Inlet Road premises for sale with colleagues James Hill and Shane Snijder.
The properties are offered for sale by deadline, closing at 4:00 pm on Thursday, 21 September 2023 (unless sold prior).
A total floor area of 13,067sq m (more or less) is spread across four buildings, predominantly warehousing and associated outbuildings, with scope to leverage underutilised yard space.
The property is held in three titles, zoned Business – Light Industry, and features an additional growth corridor overlay, providing for large-format retail activities.
Bayleys South Auckland Commercial & Industrial team director James Hill says the properties’ preferable zoning fundamentals, substantial existing industrial buildings and the potential for further development are an unmatched opportunity.
“Owner-occupiers looking to consolidate multiple businesses into one site, streamline operations and maximise efficiency will be looking to this opportunity.
“At the same time, the identified potential for value addition and customisation in such a key location makes the property a prime choice for forward-looking developers eager to capitalise on the industrial sector’s growth demands.”
Bayleys South Auckland Commercial & Industrial team director Shane Snijder says the existing occupier has committed elsewhere, rendering the property surplus to requirements.
“However, they wish to retain a two year leaseback for 7,460sq m (more or less) of warehousing plus yard at the property’s rear – 1 Inlet Road.
“This presents an opportunity for the new purchaser to earn an income whilst putting development plans into action.”
The balance of the site is available for immediate occupancy or redevelopment.
“Takanini is a recognised growth location, which benefits from an established commercial and industrial precinct complimented by an evolving residential catchment.
“The suburb forms a critical part of Auckland Council’s Integrated Area Plan, outlining an urban vision for the near southern corridor area (Manurewa, Takanini and Papakura) over the next three decades.
“This plan will reinforce the precinct’s role as the gateway to the south while protecting and improving infrastructure across the Takanini Town Centre, offering a dynamic opportunity with meaningful growth potential for a new purchaser.”
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