Multiple buildings, multiple options
A complex of four light industrial buildings is for sale in the central suburb of Mt Wellington, providing multiple options for owner-occupiers or investors looking to add value.
Located between Ellerslie and the fast-growing Lunn Avenue retail precinct, the property at 178 Marua Road provides a net lettable area of 1,568sq m on a well-positioned 2,258sq m freehold site.
The site’s flexible configuration and multiple buildings allow for separate tenancies or a staged redevelopment.
The largest three buildings are available with vacant possession while the fourth building is leased until January 2021, providing valuable holding income.
Colliers International has been exclusively appointed to market the property for sale by auction at 11am on Wednesday 12 August, unless it is sold earlier.
Hamish West, Director of Colliers International’s Industrial team, says owner-occupiers or investors could pursue a wide array of options.
“A new owner could choose to occupy some or all of the site; lease the property to one or more tenants; or carry out a staged redevelopment.
“Whatever your plan, the site’s location is sure to appeal. The property is positioned in a highly accessible pocket of light industrial development, nestled amid several popular residential and retail precincts.
“The site provides very good access to Auckland’s motorway network via State Highway 1 at the Ellerslie interchange and SH20 at the nearby suburb of Onehunga.
“It is within 10km of Auckland’s CBD and close to Auckland Airport, the Ports of Auckland and a wide labour pool catchment.
“The site occupies a road front position on Marua Road, which runs directly off Lunn Avenue. This is a booming retail precinct that is home to PlaceMakers, Mitre 10, New World, The Warehouse and numerous food and convenience retail outlets, including the new Stoneridge on Lunn retail complex.
“The property is close to Ellerslie, which is among Auckland’s most sought-after residential suburbs, and conveniently located near Sylvia Park, one of New Zealand’s largest shopping centres.
“The Sylvia Park and wider Mt Wellington areas have benefited from numerous office, retail and residential developments in recent years.
“The area also continues to benefit from significant central and local government investment as part of the Ta¯maki transformation – one of New Zealand’s largest urban renewal projects.
“The programme includes a huge infrastructure transformation with new rail, road and bus interchanges at nearby Panmure, and ongoing construction of the AMETI Eastern
Busway.”
Ben Cockram, Associate Director of Colliers International’s Industrial team, says the property for sale comprises a large main building with three smaller industrial buildings.
“The main building comprises two relatively long, medium stud portal frame bays. These provide a robust engineering and manufacturing space that has been well established for its current purposes over a long period.
“One of the bays incorporates staff amenities and administrative office accommodation of a simple standard over two levels.
“The attached, smaller rear wing of the building includes a two-bay section of similar nature to the main factory bays, together with a lower stud rear extension to one of those bays.
“These structures are configured to provide for potential multiple occupancies and one of the areas incorporates office amenities accommodation over two full levels.”
Gawan Bakshi, of Colliers International’s Auckland Investment Sales team, says the property provides a generous amount of yard space.
“The unbuilt areas of the site are fully paved with either concrete or asphalt and incorporate a reasonably generous provision of car parking together with access and manoeuvring space for potential container devanning.”
“The property’s Light Industry zoning provides for a wide range of industrial activities that do not produce objectionable odour, dust and noise emissions. Potential uses include manufacturing, logistics and distribution.
“With so many options, in such a great location, this is the perfect add value investment or new location for your business.”