Freehold Rosebank light industrial unit
A freehold industrial property in Avondale’s Rosebank Rd is for sale by expressions of interest.
JLL agent Luke McGill says the property, at Unit B 390 Rosebank Rd, is just 12km away from Auckland’s CBD.
He says the northwestern industrial location is home to a multitude of businesses and good space there is particularly hard to come by.
“Businesses in Rosebank benefit from being in the industrial precinct that’s arguably closest to Auckland’s CBD. Now with the Waterview Connection in place, driving times to Auckland Airport and points further south are significantly reduced,” he says.
Zoned for light industry, the 505sq m property comprises a 65sq m ground floor office, a 89sq m first floor office, a 353sq m warehouse and 10 carparks.
“Unit B, which is being offered with vacant possession, is one of four at the address — right in the middle of the 4806sq m development. It’s one of four units in a free-standing block in the middle of the site. This allows all the units the benefit of drivearound access,” says McGill.
He describes Rosebank Rd as a busy arterial road with an estimated 22,000 vehicles passing per day during the working week.
Thirty one per cent of properties in the area are manufacturing businesses, and a further 25 per cent wholesale operations — meaning traffic flows are heavily influenced by vehicles servicing these business operations, says McGill.
JLL researcher Tom Barclay says vacancy in the Avondale area has decreased from 2.7 per cent in December 2016 to 2.3 per cent in December 2017.
He says Rosebank Rd is experiencing low levels of vacancy in response to improved infrastructure and tight market conditions city-wide.
“With properties such as this hard to come by, many industrial businesses are faced with moving further out of the city to areas such as the northwest or South Auckland.
“Given the persistently low levels of vacancy, properties being sold with vacant possession are in relatively high demand with owner-occupiers.”