Landholding on doorstep of major growth area
An industrial landholding in Silverdale with exposure to the Hibiscus Coast Highway presents an opportunity to invest or redevelop in one of Auckland’s fastest-growing locations.
The property, at 6 Titan Pl and 44 Flexman Pl, comprises two proposed subdivision lots with a total area of 11,116sq m. The lots are offered for sale with vacant possession, either together or separately.
Colliers International is marketing the property by way of deadline private treaty closing at 2pm on Thursday, October 24, unless one or both lots are sold earlier.
Director Shoneet Chand says it is a chance to acquire a significant landholding in a high-growth area. “This superbly positioned property offers massive exposure, excellent redevelopment potential and flexible options, making it an astute buy for investors, developers and owneroccupiers.
“It comprises a number of older warehouse buildings, a small office and extensive concrete yards on a freehold site with Business Light Industry zoning.
“Vacant possession is a rarity in this market, especially in one of the fastest-growing areas of Auckland.
“This gives a new owner the flexibility to either lease out the current improvements or redevelop part or all of the site — an attractive option, given the site’s zoning and highprofile location.
“A rental analysis shows the property could generate some $285,760 in annual holding income if fully tenanted at current market rates. This rental rate is on par with that in the North Shore industrial location of Albany.”
Colliers industrial broker Ryan de Zwart says the property is near the Silverdale Centre retail development.
“The Hibiscus Coast Highway is the main arterial between State Highway 1. This gives the site huge visibility to more than 30,000 passing cars every day.
“The property also offers excellent proximity to all of the area’s retail, residential and industrial hubs.”
Proposed Lot 1, at 6 Titan Pl, is a rectangular shaped 5726sq m site with workshop, warehouse, office and concrete yard.
The property has the potential to generate $190,960 in annual rent at current market rates, comprising $122,320 from the yard and $68,640 from the warehouse and office.
The workshop provides 161.5sq m of functional space including a small office and amenity area. Access is via three roller doors.
The larger warehouse is 344.3sq m and includes toilet, shower and lunchroom. Access is via two roller doors. A 63sq m office building includes a large open plan office.
Proposed Lot 3, at 44 Flexman Pl, is a 5390sq m site. It comprises a slightly irregular shaped lot with significant frontage to Hibiscus Coast Highway, along with a 220sq m warehouse.
The property has the potential to generate $94,800 in annual rent at current market rates, comprising $75,000 from the yard and $19,800 from the warehouse and office.
The site also contains a proposed billboard lease area that could return additional annual rent.