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Vacant industrial warehouse property finds favour with the market


The Property

  • Functional medium-stud warehouse with single-level office and amenities on a rear site
  • 3,230sqm (more or less) freehold land
  • Around 1,311sqm building area, plus secure rear yard
  • Located just off Cavendish Drive in the sought-after Manukau industrial precinct
  • Sold with vacant possession
  • Zoned Business-Light Industry
  • Manukau City centre and SH20 and SH1 on-ramps less than 2km away
  • Easy access to Wiri inland Port

Quick Look

  • National Total Property marketing campaign – by deadline private treaty
  • Interest generated via Bayleys’ databases, direct approaches to prospective parties, and Total Property magazine
  • 14 viewings with four offers received by closing date
  • SOLD for $3,300,000
  • Purchased by an owner-occupier

The Story

With vacancy levels exceedingly low in all the established industrial precincts across Auckland, and a shortage of stock for sale, both investors and owner-occupiers have been finding it tricky to secure space.

Karl Price and Nick Bayley of Bayleys South Auckland knew that the owner-occupier market would be keen on the Grayson Avenue property, as it was offered for sale with vacant possession.

“There’s such a squeeze on industrial space and with banks more prepared to lend on well-capitalised established businesses at the moment, owner-occupiers are a really active segment of the industrial market, “ said Karl.

“The Manukau industrial precinct has always been a strong and highly sought-after area given its streamlined and convenient accessibility, and there’s good representation from manufacturing, logistics and warehouse companies.

“We were delighted to get a good result for our clients, with their move to bigger premises positioning them well for continued business success.”

Vendor Comment

Debbie Taylor, general manager of New Zealand-owned plastics manufacturer Forward Plastics, said business growth prompted the decision to sell, with Bayleys energetic approach paying off.

Forward Plastics had occupied the property since 1997, originally as tenants then as owner-occupiers.

Debbie said the successful business had outgrown the property and they required more space, prompting a move to newer, much larger premises in East Tāmaki.

“Karl had been in touch with us over the past few years and was always very professional and knowledgeable about commercial real estate, and the area we were based in.

“He’d always been very energetic and on to it, and we felt he and Bayleys were the right choice for our sale as we needed the process to be quick and clean.

“Bayleys’ proposal for the sale ticked all the boxes and we felt particularly confident that with Karl driving the campaign, we’d get the results we wanted.”

Debbie said with outstanding communication, weekly meetings to apprise them of progress, and in-depth analysis of potential buyers, they knew exactly where things stood throughout the process.

“Karl and Nick were approachable, professional and made the process seem easy.

“We were happy with the sales price – it was the right result for us.”

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