A substantial industrial premises in a tightly-held and established precinct is expected to generate broad market interest given its utilisation options and significant long-term development potential.
An industrial property along Auckland’s tightly-held northwest corridor is positioned to capitalise on the high demand for properties with scope of utilisation and significant long-term development potential.
The predominantly vacant property on 2,276sq m (more or less) of freehold land at 651 Rosebank Road lies within an established industrial precinct accessible to Auckland’s Central Business District, Port, and economic activity in the northwest region.
Bayleys salesperson Matt Clifford says the property is offered to the market at a time of demand for industrial premises given persistent shortages of appropriately zoned land.
“Businesses are expanding operations and purchasing premises to offset rapidly rising rental rates, pitting them against developers and investors – particularly given an increasing attraction to established precincts strategically positioned to benefit from key transport links and existing infrastructure.
“There is a high demand from occupants for facilities which reach the largest population in the shortest time, with the Rosebank Peninsula providing proximity to key employment areas and the potential for expansion given large-scale residential, commercial and light industrial development opportunities within the adjoining town centre.”
Mr Clifford is marketing the property for sale by deadline with colleagues Beterly Pan, Mark Preston and Alistair Hitchcock, closing at 4:00 pm on Thursday, 26th October 2023 (unless sold prior).
The subject property comprises three lettable areas totalling 1,790sqm (more or less) with offices, warehousing and 25 car parks in Business – Heavy Industrial zone, which permits a wide range of use, including research and development, engineering, fabrication, manufacturing, warehousing, storage and logistics.
Bayleys salesperson Beterly Pan says an original warehouse established circa 1970 remains essentially unchanged, while around 2005, the front office section of the premises was demolished, giving way to the construction of a new two-level building.
“The offices have a distinctly modern and contemporary feel with an open-plan layout featuring suspended ceilings, flush panel lighting, ducted air-conditioning and well-maintained amenities.
“Warehousing is built right up to the boundary of three sides, ensuring maximum utilisation in its current form, with access through motorised roller doors on either side of the property.
“There is potential to amalgamate both warehouses into one larger space.”
Bayleys salesperson Mark Preston adds that a 30-metre frontage to key arterial Rosebank Road provides high visibility, ample car parking space, vehicle manoeuvrability, and container drop provisions.
“Intelligent Environments occupies 262sqm (more or less) of ground floor office area, returning rental income of $68,906 plus GST and outgoings in a lease expiring in August 2025.
“This presents the new owner with options to expand current business interests into the to-be vacant space or to undertake a new lease with the current tenant – all of which is added income security.”
Occupants of the surrounding area include product manufacturers Autex, Methven, Rheem, Blum, Allegion, the trade-oriented division of Bunnings Warehouse, and clothing retailer Barkers.
Bayleys salesperson Alistair Hitchcock says as businesses continue to expand to shore up their future growth prospects, properties in high-value locations with freehold fee simple titles, such as the subject property, become increasingly more attractive as essential business investments.
“This gives owner-occupiers the chance to bolster their company’s financial stability by acquiring a strategic asset.
“At the same time, developers, investors and land bankers will appreciate the opportunity to split risk with multiple tenancies or create value capture through additional works.
“Given the unique attributes and strategic location, we expect the property will generate significant interest from a broad market selection given its versatility in a key location,” he says.